Market Conduct Regulation vs Solvency Regulation

  • (p12) - Daniel Schwarcz (Associate Professor, University of Minnesota Law School:
    • So, notably, you will see that my testimony was focused on different issues than many of the other witnesses, and that is because it is true that solvency regulation is in many ways the core of insurance regulation.
    • Now, I say this to contrast it with market conduct and other forms of consumer regulation.... 
  • (p13) - Terri Vaughan (NAIC-CEO / IA)
    • The first thing I want to say, I agree with Professor Schwarcz that the level of our collaboration in market regulation is behind the level of collaboration in solvency regulation and that is something we have been working on for a number of years, to try to increase the collaboration.  

2011 0914 - GOV (Senate-Banking/SII) - Emerging Issues in Insurance Regulation, Jack Reed (D-RI)  ---  [BonkNote]

  • In guarding the public against insolvent insurance companies state supervision has been eminently successful.
  • In protecting the people against frauds, impositions and abuses by solvent companies it has been only partially successful.  (p215-228)

"Deceptive Insurance Methods --The Cure", By Mr. E. E. Rittenhouse (Colorado, Insurance Commissioner of Colorado)

1907-0, NAIC Proceedings