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.

Debt financing (Corporations), Debt financing

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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.

Economic aspects, Prices and rates, Insurance

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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.

Reports, Bankruptcy law, National Association of Independent Insurers

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