An important reason for regulation of insurance is because insurance is paid for in advance but the benefit is collected in the future.

Name: An important reason for regulation of insurance is because insurance is paid for in advance but the benefit is collected in the future.
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Insurance is regulated to ensure that companies remain solvent and able to pay out claims in the future, as premiums are collected in advance while claims are paid out at a later date.

An Important Reason for Regulation of Insurance Is Because Insurance