Table Of Contents/ Regulation Of The Life Insurance Business
- The Author xi
- 1 Need for Insurance Regulation
- Numbers Affected
- Nature of Insurance: Security via a Promise
- Imbalance of Bargaining Power
- 2 Development of Insurance Regulation at the State Level
- Early Development
- Advent of Federal Oversight: SEUA Case and the McCarran Act
- Aftermath of the McCarran Act
- Agencies of State Insurance Regulation
- 3 Goals of Insurance Regulation
- Internal Goals
- External Goals
- Goals from the Consumer�s Perspective
- 4 Foundations of Regulatory Control
- Formation and Licensing of Insurers
- Controls over Unauthorized Insurers
- Licensing of Agents
- 5 Security: Reliability of the Insurance Institution to Perform Estate Its Insurance Obligations
- Financial Condition: Solidity of the Insurer
- Protection against Loss
- 6 Market Conduct: Reasonable, Equitable and Fair Treatment of Policyholders
- Policy Forms
- Rates
- Foundation of Market Conduct Regulation: The Unfair Trade Practices Act
- Business-Getting Activity
- Unfair Discrimination
- Policyholder Dividends
- Unfair Settlement Practices
- Privacy
- Group Life Insurance
- 7 Illustrative Areas Giving Rise to Both Solidity and Marketplace Regulatory Concerns
- The Special Problem of AIDS
- Deterrence of and Sanctions against Fraud
- Regulation for Sound Insurer Management
- Conversion: Mutualization/Demutualization
- 8 Uncertain Application of Constitutional Doctrines in Allocating Regulatory Authority Between Federal and State Government
- The Preemption Doctrine Under the Supremacy Clause
- Commerce Clause Limitations
- Framework of The McCarran Act and Its Impact on Constitutional Limitations
- 9 Increasing Applicability of Federal Antitrust Law to the Conduct of the Business of Insurance
- Narrowing the Scope of McCarran Act
- Antitrust Exemptions
- Overview of the Nature of the Federal Antitrust Laws
- Impact of Applying Antitrust to the Insurance Business
- 10 Regulation of Trade Practices: Actual and Potential Involvement of the Federal Trade Commission
- Early FTC Challenges
- Potential Role of the FTC in the Regulation of Insurance Trade Practices
- 11 Dual Federal/State Regulation of Life Insurance Company Investment-Oriented Products: The SEC Joins State State Insurance Regulators as a Major Regulatory Participant
- Overview of Federal Securities Laws
- Assertion of Federal Securities Law Jurisdiction over Variable Insurance Products
- Regulatory Application of Federal Securities
- Securities Regulation of Variable Insurance Contracts
- State Insurance Regulation of Variable Contracts
- Dual Regulation
- Regulation of Hybrid/General Account Products
- 12 Dual Federal/State Regulation of Financial Planners
- Emergence of Financial Planning Services
- Federal Regulation of Financial Planners
- State Regulation of Financial Planners
- 13 Securities and Exchange Commission Involvement in Regulation of Life Insurance Companies: Reporting, Proxy and
Insider Proxy and InsiderTrading Requirements
- Overview of the 1934 Act: Reporting, Proxy and Insider Trading Requirements
- Conditional Exemption for Insurance Companies: State Insurance Regulatory Involvement
- Additional Controls over Insider Trading
- SEC Financial Reporting Requirements for Insurers: GAAP versus SAP Accounting
- 14 Multidisciplinary Control over Life Insurance Company Affiliations
- Types of Affiliations
- Regulation of Acquisitions, Mergers and Holding Companies
- 15 Potential Direct Federal Solvency Regulation Regulation and State Response Thereto
- Proposed Two-Tier Regulation
- Alternative State Responses to Nationwide Regulatory Problems
- 16 State versus Federal Regulation
- Inherent Advantages of State Insurance Regulation
- Perceived Disadvantages of State Insurance Regulation
- Reformulation of the Issues
- 17 Functional Convergence of Financial Services Services As to Types of Products and Services
- Breaking Down the Barriers between Different Types of Financial Services
- Regulatory Implication of the Convergence of Financial Services
- 18 Geographic Convergence: Internationalization Internationalization of Financial Services in General and Insurance in Particular
- The European Community
- General Agreement on Tariffs and Trade
- North American Free Trade Agreement
- Regulatory Implications of Internationalization
- Bibliography
- CE Start Page