Final answer:
Transacting insurance includes the execution of a contract of insurance, solicitation, and negotiation.
Step-by-step explanation:
Transacting insurance includes the execution of a contract of insurance, solicitation, and negotiation.
Execution of a contract of insurance refers to the act of entering into a legally binding agreement between the insurer and the insured.
Solicitation involves the process of attracting potential customers and offering them insurance policies. Negotiation refers to the back-and-forth discussions and agreements between the parties involved in the insurance transaction.