After failing to self-regulate insurance rates and commissions, the insurance industry developed to promote the prevention of fires and the reduction of conflagration potential.

Codes and standards.

Explanation:

Codes and standards are the set of documents that have the written practices, regularities, and specified instructions that are to be followed in order to have more regulated and standardized way of a task to be done.

They are presented and established after the consultation of the knowledgeable and performing the engineering practicals.

Like in the above case the set of standards provide the precaution and the instructions to prevent loss from fire

answer; someone must cover the cost associated with the provision of scarce goods in both sectors;