Magazine article Risk Management

Risky Business

Magazine article Risk Management

Risky Business

Article excerpt

RISKY BUSINESS

Insurance Markets and Regulation

Edited by Lawrence S. Powell

To say insurance regulation in the United States Is complicated is an understatement The current system requires insurers to desi with 56 separate jurisdictions, each with its own mies and regulations- Glues contend that the inefficiencies of this fragmented system create billions of dollars in costs that are ultimately passed on to consumers in the form of higher premiums, They believe that the best solution would be a uniform federal system of regulation. It Is a heated economic and political debate that has not ahvays found universal support In the Insurance industry. But today, the climate may be shifting.

Published by the Independent institute, e Cartrfarnia-based reseereh organization, Ri$ky Business deftly examines the state vs. federai regulatory debate and manes a convincing cese for reform. The book brings together a group of risk management and Insurance experts to discuss a variety of related topics, including Ehe foundations or insurance. failures of previous reform efforts and comparisons of Insurance regulation in the United States and the European Union. …

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