Discuss the key functions of insurance regulation.

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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.

keosha answered 1 year ago

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