Rep. Dingell introduces solvency regulation bill
Article Abstract:
The House Subcommittee on Oversight and Investigations has introduced a solvency regulation bill aimed at the insurance industry. Sponsored by Rep. John D. Dingell, the new law mandates a dual state, federal regulatory system. Interstate and foreign insurance operators will be required to meet federal insolvency standards but will be exempt from similar state statutes. However, insurers are still bound by state rate regulations, codes of conduct and policy form regulations.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1992
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Solvency and rate suppression
Article Abstract:
It has become apparent that regulatory rate suppression is harmful to the insurance industry. Insurance companies claim that rate suppression bloats residual markets, erodes safety incentives, reduces availability and forces unfair cross-subsidies in the insurance market. Furthermore, research indicates that there is a discernable relationship between rate regulation and insolvencies in the insurance industry.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1992
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Solvency control belongs with states, NAII says
Article Abstract:
The National Assn of Independent Insurers (NAII) reports that the states have a solvency regulation system that is structurally sound. The NAII believes that state regulation is more effective than federal regulation in attaining both security and free enterprise. The decentralized nature of state regulation promotes economic freedom, whereas the federal regulation system tends to be of poor quality.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
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