Jason Strauss, “Flexible Rate Filing Insurance Rate Regulation as Alternative to Incentive Incompatibility in Prior-Approval,” November 2008.
Sharon Tennyson, “Efficiency Consequences of Rate Regulation in Insurance Markets,” March 2007.
View an updated version of “The Road to Reform,” NAMIC white paper, October 2006.
“Regulation of Property/Casualty Insurance: The Road to Reform” white paper, April 2002.
“Changing the Terms of the Regulatory Modernization Conversation: The New York Initiative,” NAMIC Issue Brief, August 2006.
“Accepting the Challenge: Redefining State Regulation Now,” NAMIC white paper, April 2000.
“Rate Filing Methods and Approval,” NAMIC Compliance Grid.
Rate Modernization [S]
Consumers benefit from robust competition among many businesses offering similar products and services. Not only are there more services and products to choose from, the costs are likely to be lower because of the competition.
In too many states, however, competition among insurance companies is highly regulated to the point where the benefits of competition are severely restricted. Lengthy, bureaucratic processes are required in such states to justify and obtain approval of insurance rates.
NAMIC supports rate modernization as a pragmatic mechanism to foster insurance competition, promote responsible insurance practices, and break the regulatory cycle that distorts the marketplace to the detriment of the insurance consumer.
Posted: Monday, January 17, 2011 1:48:25 PM. Modified: Friday, May 15, 2015 2:01:04 PM.
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