Question

In: Operations Management

Discuss the key functions of insurance regulation.

Discuss the key functions of insurance regulation.

Solutions

Expert Solution

ANS- The key functions of insurance regulation are given below-

  • Monitor the insurance market that processes are being conducted fairly
  • Setting up new rules and regulation regarding the insurance policies and products
  • Settling the disputes if any, regarding to the insurance claims.
  • To take action against insurance companies if they violate the standards set by the insurance regulation.
  • Register the insurance companies under insurance regulation.

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