4. List three advantages of regulating at the federal level and three advantages of regulating at the state level. 5. Insurance carriers use credit ratings as part of their underwriting process. Some people think this is unfair but there is a high correlation between higher credit scores and lower claims experience. List two pros and two cons for both ideas 4. List three advantages of regulating at the federal level and three advantages of regulating at the state level. 5. Insurance carriers use credit ratings as part of their underwriting process. Some people think this is unfair but there is a high correlation between higher credit scores and lower claims experience. List two pros and two cons for both ideas