boards, bureaus, commissions

  • Administrative bodies usually under state control, whose main function is to regulate the transaction of the business of insurance. This term also applies to authorities set up and founded by insurance carriers for the purpose of establishing rates and rules that, when fixed, must be followed by subscribing members.

    Internal Revenue Service 1
    See also rating bureaus

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).