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Sagot :
Final answer:
Requiring licenses for persons transacting insurance serves to protect the general public by ensuring industry standards are met.
Explanation:
Licensing for persons transacting insurance serves the purpose of protecting the general public. By requiring licenses, regulators ensure that individuals conducting insurance transactions have met certain standards, which helps safeguard consumers from fraud, incompetence, and other risks. This regulation is essential in maintaining the integrity and trustworthiness of the insurance industry.
Learn more about Insurance regulation and consumer protection here:
https://brainly.com/question/37893288
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