Which of the following is the best driver to maintain an adequate supply of insurance at affordable prices?

Question

Quizplus · Accepted Answer

Competition among insurers is the best driver to maintain an adequate supply of insurance at affordable prices. Insurance companies compete with each other to attract customers by offering better coverage at lower prices. This leads to lower premiums for customers and higher efficiency for insurance companies. Regulations, excluding high-risk or low-risk applicants, may have unintended consequences and can actually raise prices or limit availability of insurance.

Which of the Following Is the Best Driver to Maintain