The Future of Insurance Regulation in the United States

Table of Contents

Preface vii 1 The Future of Insurance Regulation: An Introduction 1 Martin F. Grace and Robert W. Klein 2 The Insurance Industry and Its Regulation: An Overview 13 Robert W. Klein pa rt o n e Framework for Insurance Regulation 53 3 An Optional Federal Charter for Insurance: 55 Rationale and Design Martin F. Grace and Hal S. Scott 4 Dual Insurance Chartering: Potential Consequences 97 Robert Detlefsen Contents v pa rt t wo Insurance Regulatory Policies 115 5 Insurance Regulation: The Need for Policy Reform 117 Martin F. Grace and Robert W. Klein 6 Consumer Benefits of an Optional Federal Charter: 145 The Case of Auto Insurance Robert E. Litan and Phil O’Connor pa rt t h re e Insurance Regulation, Financial Convergence, 165 and International Trade 7 Convergence in Financial Services Markets: 167 Effects on Insurance Regulation Peter J. Wallison 8 U.S. Insurance Regulation in a Competitive 189 World Insurance Market: An Evaluation John A. Cooke and Harold D. Skipper Contributors 221 Index 223 vi contents ...