Download or read book Optional Federal Chartering of Insurance written by Hal S. Scott and published by . This book was released on 2007 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the design of a federal regulatory structure for insurance companies in the United States, assuming some form of an optional federal charter is adopted. Any design must take account of the objectives of insurance regulation, the convergence of financial service powers among banks, securities, and insurance firms, the types of lines to be regulated at the federal level, and problems posed by the possible participation of nationally chartered insurers in state residual pools and guaranty funds.This paper argues that the creation of a new federal insurance regulator should be accompanied by more consolidation and less fragmentation in the overall federal regulatory structure, by placing the new regulator within an operationally strengthened President's Working Group on Financial Markets.Ideally, a new optional federal charter should provide a real federal option by having the federal government fully regulate the safety and soundness and product lines of all insurers choosing the federal option. However, if lines were to be split between federal and state regulation, safety and soundness regulation of all insurance companies choosing a federal option should take place exclusively at the federal level, leaving the states with responsibility for consumer protection regulation in non-federal lines. While state guaranty funds have functioned effectively overall, a national guaranty fund would have the advantage of uniting responsibility for insurance and safety and soundness regulation, as in the case of banking.
Download or read book Optional Federal Chartering and Regulation of Insurance Companies written by Peter J. Wallison and published by American Enterprise Institute. This book was released on 2000 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: In response to heightened competition, the larger insurance companies and various insurance industry groups have become interested in the concept of federal chartering and regulation.
Download or read book Insurance Regulation Reform written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2009 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Future of Insurance Regulation in the United States written by Martin F. Grace and published by Rowman & Littlefield. This book was released on 2009-12-01 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Brookings Institution Press and Georgia State University publication Important changes have buffeted the insurance industry over the past decade. The 1999 repeal of key provisions of the Glass-Steagall Act unleashed a wave of conglomeration in financial services, as bank holding companies acquired insurance and securities businesses and, to a much lesser degree, insurance companies acquired securities firms and banks. Rivalry within the sector has intensified: insurance companies have developed products that compete directly with the offerings of banks and securities firms and vice versa. In addition, the industry has become increasingly global. Against this backdrop, pressure has been building for fundamental changes to the structure of insurance regulation in the United States. Despite several court challenges over the years, insurance continues to be regulated by the states. Many insurance companies view state regulation as an increasing drag on their efficiency and competitiveness and support a federal regulatory system. However, powerful stakeholders, including state officials, state and regional insurance companies, and many insurance agents, oppose federal regulation. As a result, proposals to establish an optional federal charter (OFC) for insurance companies and agents remain mired in fierce debate. The Future of Insurance Regulation in the United States gathers some of the country's leading experts on financial regulation to assess the case for an enhanced federal role in the insurance sector. They pay particular attention to the merits of an OFC and how it might be designed. They also consider the principles that should guide insurance regulatory policies, regardless of the institutional framework, and examine the implications of financial convergence and the internationalization of insurance markets for an optimal regulatory structure. The debate over insurance regulation has only grown in complexity and intensity since the financial crisis began in the fall of 2008. This book will both inform and help to shape those critical discussions. Contributors: John A. Cooke (International Financial Services London), Robert Detlefsen (National Association of Mutual Insurance Companies), Martin F. Grace (Georgia State University), Robert W. Klein (Georgia State University), Robert E. Litan (Ewing Marion Kauffman Foundation and Brookings Institution), Phil O’Connor (PROactive Strategies), Hal S. Scott (Harvard Law School), Harold D. Skipper (Georgia State University), Peter J. Wallison (American Enterprise Institute).
Download or read book The State of the Insurance Industry written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2010 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Insurance regulation and competition for the 21st century written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2002 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regulating the Business of Insurance in a Federal System written by Joseph F. Zimmerman and published by State University of New York Press. This book was released on 2010-12-09 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Regulating the Business of Insurance in a Federal System, Joseph F. Zimmerman provides an up-to-date historical description and analysis of the regulation of the business of insurance in the United States. He focuses on the controversial issue of whether Congress should authorize optional federal charters for insurance companies, thereby establishing a dual charter system superficially similar to the dual banking system. Reviewing the evidence between federal and state level regulation of the financial securities industry, Zimmerman finds that federal regulation falls woefully short of its state counterpart. He concludes that the current system, rather than the proposed dual insurance regulatory system, is the most efficient and effective.
Download or read book Examining Proposals on Insurance Regulatory Reform written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2008 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Need for Insurance Regulatory Reform written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2008 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Antitrust Exemptions and Immunities written by United States. Congress. House. Committee on the Judiciary. Subcommittee on Monopolies and Commercial Law and published by . This book was released on 1977 with total page 1094 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Pricing and Marketing of Insurance written by United States. Department of Justice and published by . This book was released on 1977 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Reforming Insurance Regulation written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2003 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Real Estate Settlement Procedures Act controlled Business written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Housing and Community Development and published by . This book was released on 1981 with total page 680 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regulatory Modernization written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2010 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Vulture Culture written by Eric D. GERST and published by AMACOM Div American Mgmt Assn. This book was released on 2008-04-23 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: We all dutifully write out checks for insurance coverage each month, assuming that if the worst should occur, we'll be protected financially. But what we don't know about the insurance business could—and most probably will—hurt us. Vulture Culture is a hard-hitting exposé of the sorry state of the industry, from tales of rampant, widespread corruption to inconsistent state regulations and the inability—and often unwillingness—of the federal government to protect the rights of denied claimants. The book takes readers into a world of bid-rigging, fraudulent commissions, and secret payoffs, revealing shocking abuses and ominous new trends. Readers will hear about a rogue’s gallery of shady executives, including a CEO whose massive claim denial schemes eventually got him fired ... at great cost to consumers. From the Hurricane Katrina fiasco of unpaid claims, to a revolving door in which former insurance executives regulate their own industry before returning to it themselves, this is a shocking account of an industry on the brink of collapse, and what must be done to fix it before it’s too late.
Download or read book Antitrust Law Journal written by and published by . This book was released on 1986 with total page 1078 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Insurance Redlining written by and published by . This book was released on 1979 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
