States and Territories

  • REGULATION FROM A LEGISLATOR’S PERSPECTIVE
  • I hope to give you some insight into state government regulation and the way we feel about the life insurance industry.
  • As a state legislator, I have never had any serious problem with the life insurance industry.
  • One reason for this is because life insurance is strictly voluntary.
    • This is quite different from casualty insurance which has mandated coverages.
    • If a person buys a life insurance policy, he does it on his own free will and this takes us off the hook.
  • Second of all, life insurance has always served a very important purpose in this country. 

—  Warren D. Arthur, IV. (not a member of the Society, is a state representative in the South Carolina legislature. 

1981 – SOA – Changes in Life Insurance Laws and Regulations: What Do We Need and How Can We Get It?, Society of Actuaries – 18p

  • The Council of State Governments (CSG), National Conference of Insurance Legislators (NCOIL), and National Conference of State Legislatures (NCSL)-organizations of state officials devoted to sound insurance public policy-are writing to tell you why we believe that the protection of insurance consumers should continue to be based exclusively at the state level.

2009 0901 – Letter – NCOIL,CSG, NCSL to GOV Dodd, Frank, Shelby, Bachus – 2p