The Future of Insurance Regulation in the United States

Front Cover

the future of insurance regulation in the united states the future of insurance regulation in the united states georgia state university Atlanta brookings institution press Washington, D.C. martin f. grace robert w. klein editors ABOUT BROOKINGS The Brookings Institution is a private nonprofit organization devoted to research, education, and publication on important issues of domestic and foreign policy. Its principal purpose is to bring the highest quality independent research and analysis to bear on current and emerging policy problems. Interpretations or conclusions in Brookings publications should be understood to be solely those of the authors. Copyright © 2009 THE BROOKINGS INSTITUTION 1775 Massachusetts Avenue, N.W., Washington, D.C. 20036 www.brookings.edu All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without permission in writing from the Brookings Institution Press. Library of Congress Cataloging-in-Publication data The future of insurance regulation in the United States / Martin F. Grace, Robert W. Klein, editors. p. cm. Includes bibliographical references and index. Summary: “Enhances research and informs the debate on restructuring the framework for U.S. insurance regulation. Evaluates proposed legislation to create an Optional Federal Charter for insurance companies and agents. Also goes beyond discussion of OFC and lays out the broader context and need for regulatory reform in the insurance industry”— Provided by publisher. ISBN 978-0-8157-0286-3 (cloth : alk. paper) 1. Insurance—State supervision—United States. 2. Insurance—Government policy— United States. 3. Insurance law—United States. I. Grace, Martin Francis, 1958– II. Klein, Robert W. (Robert Warren), 1953– III. Title. HG8535.F88 2009 368'.0190973—dc22 2009011150 9 8 7 6 5 4 3 2 1 The paper used in this publication meets minimum requirements of the American National Standard for Information Sciences—Permanence of Paper for Printed Library Materials: ANSI Z39.48-1992. Typeset in Adobe Garamond Composition by Circle Graphics, Inc. Columbia, Maryland Printed by R. R. Donnelley Harrisonburg, Virginia ...