Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
12-1
Approaches to Government Control
1. Antitrust concentrates on
maintaining competition. The
principal thrust of antitrust is
to curtail monopoly power
2. Regulation direct
intervention in the decisions of
firms, forcing them to behave
in a way that will produce
results as near as possible to
those that would occur in a
competitive market
12-2
Rationale for Regulation of Insurance
2. Emerging goals:
12-4
History of Insurance Regulation
1. Legislative branch
2. Judicial branch
4. the NAIC
12-6
NAIC State Accreditation Program
12-7
Licensing of Insurers
12-8
Statutory Accounting
12-9
Terminology
Policyholders’ Surplus
• excess of assets over liabilities
• for capital stock insurers, capital and
surplus
• for mutual insurers, surplus
Reserves
• synonymous with liability in insurance
company accounting
12-10
Property and Liability Insurers
1. Earned premiums
2. Unearned premium reserve
3. Incurred losses/loss reserves
4. Incurred expenses
5. Summary of operations
6. Investment results
7. The combined ratio
12-11
Property & Liability Insurer Surplus Drain
12-12
Property & Liability Insurer Surplus Drain
12-13
Regulation of Reserves
12-14
Regulation of Reserves
12-15
Regulation of Reserves
12-16
Regulation of Investments
12-17
Examination of Insurers
12-18
Examination of Insurers
12-19
Insurer insolvencies
12-20
Insurer insolvencies
12-21
Insurance Regulatory Information System
12-22
IRIS Ratios
12-24
IRIS Ratios
12-25
Regulation of Rates
12-26
Regulation of Rates
12-27
Regulation of Policy Forms
12-28
Competence of Agents
12-29
Approval of Non-Admitted Insurers
12-30
Approval of Non-Admitted Insurers
12-31
Unfair Practices
12-32
Rebating
12-33
Twisting
12-34
Access to Insurance
12-35
Access to Insurance
12-36
Distressed and Residual Risk Pools
12-37
Distressed and Residual Risk Pools
12-38
Distressed and Residual Risk Pools
12-40
Redlining
12-41
Taxation of Insurance Companies
• varies from 2% to 4%
12-42
Taxation of Insurance Companies
12-43
Taxation of Life Insurers
12-45