What type of insurance transactions are primarily covered under the RIBO Act?

The RIBO Act, which stands for the Registered Insurance Brokers Act, specifically regulates insurance brokers in relation to property and casualty insurance transactions. This includes the buying, selling, and advising on various types of insurance policies that protect against risks such as theft, fire, liability, and other financial losses associated with property and casualty. The focus of the Act is on ensuring that brokers are qualified to provide these services and maintain professional standards in their dealings with clients.

Property and casualty insurance transactions cover a broad range of insurance products that most directly relate to risk management for individuals and businesses regarding their properties and liabilities. This is why the correct answer pertains to property and casualty insurance transactions, as they fall squarely within the scope of the RIBO Act's regulatory framework.

In contrast, the other options, such as life, health, and automobile insurance transactions, do not fall primarily under the RIBO Act's purview and are typically governed by different regulations or acts that address the specific nature and requirements of those types of insurance. Life insurance focuses on matters related to life coverage and benefits, health insurance addresses medical-related risks, and while automobile insurance might have elements of property and casualty, it is often treated distinctly because of its unique regulatory requirements and industry standards