Question

What is the primary purpose of regulations created by the insurance regulator?

a.

To maximize profits for insurance companies

b.

To limit coverage options for policyholders

c.

To protect the interests of policyholders and ensure their contractual rights are upheld

d.

To restrict the growth of the insurance industry

Posted under IC 14 Regulations of Insurance Business

Answer: (c).To protect the interests of policyholders and ensure their contractual rights are upheld Explanation:The primary purpose of regulations created by the insurance regulator is to protect the interests of policyholders and ensure their contractual rights are upheld.

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