Which of the following represents an unfair trade practice in insurance?

Charging different rates for the same risk class represents an unfair trade practice in insurance because it violates the principle of equitable treatment. In insurance, similar risks should be rated uniformly to ensure fairness and legality in pricing. When an insurer charges different rates for individuals or entities that fall within the same risk classification without a valid basis (such as differences in coverage or specific underwriting factors), it can lead to discrimination or unfair disadvantages for certain policyholders.

In contrast, offering reduced claims processing times, providing financial advice to clients, and promising to pay claims quickly can be seen as positive practices. They enhance customer service and client relations within the insurance industry. However, these practices must be conducted truthfully and within regulatory guidelines to avoid misleading clients.