The McCarran-Ferguson Act of 1945
A. separated commercial banking from insurance activities.
B. mandated federal insurance company charters.
C. stipulated that insurance companies are to be regulated at the state level.
D. initiated a national insurance guaranty fund.
E. limited insurance company assets to low risk government securities.
Ans: C. stipulated that insurance companies are to be regulated at the state level.
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Which of the following diagrams represents a situation where one or more warehouses may be empty, and production of new products has been delayed due to difficulty obtaining materials?
A) B) C) D)
Sid burned his own warehouse in an attempt to collect on a fire insurance policy. Sid has committed A)arson since he maliciously used fire to damage or destroy personal property
B)larceny since he committed an act intended to wrongfully obtain money from his insurance company. C)a crime called "burning to defraud insurers" since the crime of arson only applies to property owned by another person. D)an intentional tort, but not a crime since a person has a right to destroy his own property.