If not now, then when?

Article Abstract:

Insurance companies are beset by insolvency, the flight of insurance buyers overseas and a poor public image. The primary reasons are regulatory incompetence and jurisdictional disputes between state and federal regulators. Short terms, embarrassment over defaulting companies, and the existence of guaranty funds are the factors that render state commissioners ineffectual. The best solution might be sweeping federal legislation - namely the creation of an optional regulatory system for highly capitalized, federally chartered insurers.

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Taking a hard look at Canada

Article Abstract:

US insurers should consider taking advantage of the many opportunities created by Canada's Insurance Companies Act. The legislation will break financial barriers and will create increased competitiveness in Canada's insurance market. Insurance companies will be able to offer consumer loans and may acquire financial service corporations such as those involved in real estate and mutual funds. Insurers will not be able to provide services such as taking deposits and securities brokering.

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