Is it better for insurance to be regulated by state or federal?
Is it better for insurance to be regulated by state or federal?
Two of the major advantages of federal regulation are uniformity and efficiency. As compared to state regulation, a federal charter could potentially be more cost effective. Supporters of federal regulation also claim they can offer more competent regulators.
What is the highest authority for insurance regulation?
The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories.
Who runs NAIC?
National Association of Insurance CommissionersThe National Association of Insurance Commissioners (NAIC) is led by the insurance commissioners of the 50 states, plus Washington, D.C., and five U.S. territories.
