The Differences in State and Federal Regulation of the Insurance Industry in the US
The insurance sector in the US is heavily regulated and subject to both state and federal legislation to protect customers from misconduct by insurance firms. In this post, we will examine the distinctions between state and federal rules in the United States and how they affect the insurance sector as a whole.
The disparities between state and federal regulation make insurance regulation an extremely complex subject, which makes it much more difficult. This article explores the reasons why insurance rules differ from state to state, including tort reform, product offerings, and rates, as well as the role the federal government plays in all of it.