Final answer:
The requirement for all motor vehicle operators to be properly insured is known by various names but generally referred to as compulsory auto insurance laws, which vary by state.
Step-by-step explanation:
The Act that requires all operators of motor vehicles to be properly insured does not have a universal name because it varies by state, but it is generally known as compulsory auto insurance laws or mandatory auto insurance regulations.
These laws ensure that all car owners carry a minimum amount of auto insurance coverage to provide financial protection in the event of an accident.
It is a form of government intervention in insurance markets to protect society from the financial risks associated with driving without insurance.
Most states have these requirements in place, which helps to prevent the problem of adverse selection in insurance markets and ensures that there is a base level of coverage for all drivers.