Insurance Regulation
/ɪnˈʃʊərəns ˌrɛɡjʊˈleɪʃən/
Definitions
- (n.) The body of laws and regulations governing the business of insurance, including licensing, solvency, rates, and consumer protections.
Insurance regulation ensures that companies maintain sufficient reserves to pay policyholders.
- (n.) The governmental oversight and enforcement mechanisms applied to insurance companies and agents to ensure compliance with statutory and regulatory requirements.
State insurance departments exercise insurance regulation to prevent unfair trade practices.
Forms
- insurance regulation
Related terms
See also
Commentary
Insurance regulation often involves both state and federal levels, with state regulation being predominant in the U.S.; drafting insurance regulation requires precision to balance consumer protection and industry viability.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.