Engaging in unfair methods of competition in the insurance industry could lead to which of the following consequences?

Engaging in unfair methods of competition in the insurance industry can lead to legal penalties because regulatory bodies oversee the operations of insurance providers to maintain a fair and competitive marketplace. Such actions could violate state or federal laws designed to protect consumers and maintain fair competition, resulting in sanctions or fines from regulatory authorities. Compliance with ethical standards and legal frameworks is essential in the insurance industry; thus, any unfair practices could initiate investigations, lawsuits, or penalties that negatively impact the company's operations and reputation.

The other consequences listed, such as increased market share, higher customer satisfaction, and enhanced public image, are typically not outcomes associated with unfair competition. In fact, engaging in such practices usually harms customer trust and public perception, rather than improving them.