Question

What is the common purpose served by insurance regulations in all countries?

a.

Protecting members of society from financial ruin

b.

Promoting international trade

c.

Ensuring compliance with common laws

d.

Regulating specific industries

Answer: (a).Protecting members of society from financial ruin Explanation:One of the common purposes served by insurance regulations in all countries is protecting members of society from financial ruin in various situations by providing financial security through insurance.

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Q. What is the common purpose served by insurance regulations in all countries?

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