State Regulation and Consumer Protection in the Insurance Industry

Networks Financial Institute Policy Brief No. 2008-PB-03

25 Pages Posted: 18 Mar 2008

See all articles by Sharon L. Tennyson

Sharon L. Tennyson

Cornell University - Department of Policy Analysis & Management (PAM)

Date Written: February 2008

Abstract

In the recent debate over the appropriate governmental level at which to regulate insurance markets, opponents of a new federal role often raise concerns about the adequacy of consumer protection if regulation is removed from the states. This paper analyzes the need for market conduct regulation in insurance markets, and the arguments for state versus federal provision of this type of regulation. The paper then examines the provision of consumer protection regulation by the states in light of proposals for an increased federal role in insurance regulation.

Keywords: Insurance regulation, federalism, consumer complaints.

JEL Classification: G22, L51, H77.

Suggested Citation

Tennyson, Sharon L., State Regulation and Consumer Protection in the Insurance Industry (February 2008). Networks Financial Institute Policy Brief No. 2008-PB-03, Available at SSRN: https://ssrn.com/abstract=1106172 or http://dx.doi.org/10.2139/ssrn.1106172

Sharon L. Tennyson (Contact Author)

Cornell University - Department of Policy Analysis & Management (PAM) ( email )

252 MVR Hall
Ithaca, NY 14853
United States
607-255-2619 (Phone)
607-255-4071 (Fax)

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