PIA National Instant Update: Efforts to Repeal the Anti-Trust Exemption for Medical Malpractice Insurance (2/4/10):
PIA members support the states as primary regulators of the business of insurance under a modernized system. Our existing system of insurance regulation is, in fact, a national system that is state-based, which provides vital checks and balances to ensure financial stability, safety and soundness, and should therefore be preserved. PIA:
- Supports the existing national system of state-based insurance regulation.
- Supports systemic risk regulation of banking, securities and capital markets.
- Opposes preemption by a federal insurance regulator, or federal preemption of state insurance oversight, whether optional or mandatory.
To learn more about PIA's position on Modern State Regulation of Insurance, read the July 2009 Modern State Regulation of Insurance PIA Position Paper (PDF file).
Professional Insurance Agents Insurance Foundation Publishes White Paper on the Future of Insurance Regulation
The Professional Insurance Agents Insurance Foundation has published a major white paper that addresses the current status of insurance regulation, its public purposes and benefits, and poses critical considerations and questions to be answered should current federal financial services reforms further engage in the business and oversight of insurance in U.S. markets.
The PIA Insurance Foundation engaged Mark Boozell, the former Director of the Illinois Department of Insurance (1995-1998) under Gov. Jim Edgar (R) to author the white paper entitled: Future of the Business Disciplines, Regulation and Oversight of the U.S. Insurance Marketplace.
In this section you'll find information about:
- Optional Federal Charter
- Producer oversight;
- Rate & form;
- Interstate Compact;
- Market conduct;
- Carrier licensing;
- Actions by the Office of the Comptroller of the Currency (OCC);
- Tying;
- Gramm Leach Bliley Act (GLBA);
- McCarran-Ferguson;
- Other related topics
Please see the "Related Stories" to the right to keep current with this fast moving, fluid topic.
Be sure to visit the Producer Licensing section of PIANET.