Insurance Regulation in the United States: An Overview for Business and Government / Edition 1

by Peter Lencsis

Overview

Insurance attorney Peter Lencsis provides a unique, objective description of the insurance regulatory system as it exists today in the United States. Concise but comprehensive, it provides an easily grasped, immediately useful explanation of how the regulatory system works. Because of the federal McCarran-Ferguson Act, most insurance regulation is left to the individual states, and is thus non-uniform. But there is still a common pattern to state regulation, explains Lencsis, due in large part to the activities of the National Association of Insurance Commissioners and its own uniform standards. Lencsis covers the formation and licensing of insurance companies and the regulation of their underwriting and investment activities, as well as the insurance insolvency laws and guaranty funds, assigned risk plans, reinsurance, holding companies, and the regulation of agents and brokers. An important resource for insurance industry professionals, and others in regulatory agencies of the public sector.

Product Details

ISBN-13:	9781567200850
Publisher:	Bloomsbury Academic
Publication date:	05/28/1997
Pages:	160
Product dimensions:	6.14(w) x 9.21(h) x 0.44(d)
Lexile:	1850L (what's this?)

About the Author

PETER M. LENCSIS is an attorney in private practice in New York City. Formerly Vice President and General Counsel of Greater New York Mutual Insurance Company, he has contributed to legal treatises in his field and has been a member of the adjunct faculty at The College of Insurance since 1987.

Table of Contents

Introduction
Historical Background
State Versus Federal Insurance Regulation
Formation and Organization of Insurers
Licensing of Insurers
Assets, Reserves, and Investments
Annual Statements and Periodic Examinations
Rates and Rating Organizations
Insurance Contracts
Assigned Risk Plans and Other Residual Market Mechanisms
Agents, Brokers, and Other Representatives
Holding Companies and Corporate Changes
Non-Admitted Insurers and Other Risk Management Alternatives
Insurer Insolvencies and State Guaranty Funds
Reinsurance
Trade Practices and Miscellaneous Regulation
State and Federal Taxation of Insurers
Appendix: McCarran-Ferguson Act
Table of Key Statutory Provisions
Further Reading
Index

Editorial Reviews

An introductory overview of insurance regulation in the US. After a chapter of historical background, coverage follows the life cycle of an insurer, with chapters on organization and licensing of insurers, regulation of insurer assets and investment, reports and examinations, and insolvency and liquidation laws. Other chapters discuss policy forms and rates, assigned risk plans and other residual markets, regulation of agents and brokers, and taxation of insurers. Includes a glossary and a table of key statutory provisions. Annotation c. by Book News, Inc., Portland, Or.

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