I want some assistance with answering the following questions:
Q1. Describe the main participants in the insurance market.
Q2. Explain how the economic theory of supply and demand applies to the insurance market.
Q3. Describe how the courts, the law, and the insurance commissioner provide consumer protection in the insurance market.
Q4. Define the term regulation and give four reasons why the insurance industry and the insurance transaction are comprehensively regulated.
Q5. Identify the important landmarks in the history of insurance regulation.
Q6. Explain the role the National Association of Insurance Commissioners plays in insurance regulation.
Q7. Describe the regulatory activities of state insurance departments including solvency regulation, rate regulation, investment regulation, and regulation of agents and company officers.