Key Points
  • Insurance markets should be regulated by state governments so that the regulatory environment is accountable and meets the needs of the community in ways that federal regulations would be unable to meet.
  • Policymakers and Insurers should prioritize the protection of personal information from identity theft and fraud so consumers’ privacy and identities are properly secure.
  • Onerous regulations add costs for both consumers and providers. State policymakers should create forms and regulations that minimize the compliance costs for both the consumer and insurers.

Mitigating and managing risks for both businesses and families and is critical for maintaining peace of mind that allows both businesses and families to thrive. Insurance policy ranges from vehicle to life insurance and cover everything in between. This diverse portfolio of issues can vary greatly by state, meaning that it is important that states are able to regulate their own insurance markets without onerous federal involvement. Preventing over-regulation in insurance markets helps to ensure that insurance products are able to be competitive and accessible to a wider variety of people.

Preventing federal overreach into state insurance markets is imperative to ensure that insurance meets the needs of very different states adequately. Policymakers should work with insurers to place a premium on not just serving customers well, but also protecting personal information from falling into the wrong hands. State policymakers should encourage increased protection of personal information, establish effective frameworks for market conduct actions and create more competitive and less onerous regulatory environment. By following these guidelines, state policymakers can help make sure that consumers have the peace of mind that should go along with thoughtful insurance regulations that allow for state control, security and flexibility.

Articles

Regulatory Reform

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Model Policies

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  • Resolution Opposing Unfair and Unbalanced Insurance “Bad Faith” Legislation

    Summary  This resolution is responsive to efforts by the plaintiffs’ bar, represented by the Association of American Justice (formerly the Association of Trial Lawyers of America) and its state-level affiliates, to enact legislation that undermines settled principles of contract law by unreasonably expanding the liability of insurance …

  • Resolution on the State Regulation of Insurance

    Resolution on the State Regulation of Insurance Summary The Resolution on the State Regulation of Insurance opposes any attempt by the federal government to regulate the insurance industry. Specifically, the Resolution calls on Congress to adopt a proportional liability scheme for cleaning up waste …

  • After-Market Crash Parts Act

    After-Market Crash Parts Act Summary Since only bodily injury claims are litigated, no-fault insurance only saves money in the bodily injury component of insurance premiums. However, savings can be achieved in the property damage component of premiums, as well. Often, the price of a …

  • Resolution in Support of Insurance Commissioners’ Exclusive State Regulatory Authority Over Variable Life Insurance and Variable Annuities

    Resolution in Support of Insurance Commissioners’ Exclusive State Regulatory Authority Over Variable Life Insurance and Variable Annuities Model Resolution WHEREAS, variable life insurance and variable annuities are subject to a comprehensive federal and state regulatory structure, enforced by state insurance commissioners, the Securities and …

  • The Property/Casualty Insurance Form Filing Act

    The Property/Casualty Insurance Form Filing Act Summary This model bill establishes a file and use system for the approval of policy forms and endorsements for personal and commercial lines of insurance. This creates a more competitive and less onerous regulatory environment in the insurance …

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Task Forces

Commerce, Insurance and Economic Development

Members of the Commerce, Insurance and Economic Development Task Force believe that economic freedom is the cornerstone of prosperity. The …