States and Territories

  • REGULATION FROM A LEGISLATOR'S PERSPECTIVE
  • I hope to give you some insight into state government regulation and the way we feel about the life insurance industry.
  • As a state legislator, I have never had any serious problem with the life insurance industry.
  • One reason for this is because life insurance is strictly voluntary.
    • This is quite different from casualty insurance which has mandated coverages.
    • If a person buys a life insurance policy, he does it on his own free will and this takes us off the hook.
  • Second of all, life insurance has always served a very important purpose in this country. 

--  Warren D. Arthur, IV. (not a member of the Society, is a state representative in the South Carolina legislature. 

1981 - SOA - Changes in Life Insurance Laws and Regulations: What Do We Need and How Can We Get It?, Society of Actuaries - 18p

  • The Council of State Governments (CSG), National Conference of Insurance Legislators (NCOIL), and National Conference of State Legislatures (NCSL)—organizations of state officials devoted to sound insurance public policy—are writing to tell you why we believe that the protection of insurance consumers should continue to be based exclusively at the state level.

2009 0901 - Letter - NCOIL,CSG, NCSL to GOV Dodd, Frank, Shelby, Bachus - 2p