Question

What is the scope of insurance regulation?

a.

Only long-term businesses like life insurance

b.

Only short-term businesses like automobiles

c.

Both long-term and short-term businesses

d.

Only annuities and pension products

Posted under IC 14 Regulations of Insurance Business

Answer: (c).Both long-term and short-term businesses Explanation:The scope of insurance regulation includes both orderly growth of long-term businesses like life insurance, annuities, and pension products, as well as typical short-term businesses like automobiles, buildings, household items, travel risks, ships, and shipments.

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Q. What is the scope of insurance regulation?
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