Question: Explain the following actions by agents that are prohibited by
Explain the following actions by agents that are prohibited by state law:
Answer to relevant Questionsa. Explain the major arguments for federal regulation of the insurance industry.b. Explain the major arguments in support of state regulation of the insurance industry.c. Describe the shortcomings of state regulation.One requirement for the formation of a valid insurance contract is that the contract must be for a legal purpose.a. Identify three factors, other than the legal purpose requirement, that are essential to the formation of a ...Explain the meaning of:a. Waiverb. EstoppelStephanie owns a small warehouse that is insured for $200,000 under a commercial property insurance policy. The policy contains an 80 percent coinsurance clause. The warehouse sustained a $50,000 loss because of a fire in a ...Explain the meaning of primary insurance and excess insurance.
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