Final answer:
The correct answer is that private insurers operate independently, while government insurers are regulated. Private insurers rely on premiums and investments, while government programs often use tax funding and tailored coverage based on specific plans purchased. Hence, option (C) is correct.
Step-by-step explanation:
The accurate comparison between private and government insurers is that private insurers operate independently, while government insurers are regulated. Government insurance programs are similar to private insurers in that participants make regular payments and receive funds when an adverse event occurs. However, while private insurers rely primarily on premiums and investments, government insurers are often funded through taxes.
Additionally, government insurance programs sometimes protect against risk without a specific fund, whereas private insurers typically operate with explicit funds for claims and operating expenses. It's important to note that not all private insurers are for-profit; some may operate on a non-profit basis, while government insurers are generally not-for-profit.
Furthermore, private insurers tailor coverage to specific risks and the plans purchased, while government insurance programs can vary widely in terms of what risks are covered.