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Regulation of Insurance Markets in the USA

In: Handbook of Insurance

Author

Listed:
  • Martin F. Grace

    (University of Iowa)

Abstract

Insurance is regulated to minimize the costs of negative externalities due to insolvencies, to promote or protect competition, and to protect consumers from the disadvantage of information asymmetries or market power. Many other chapters touch on these issues, but this chapter focuses on the economic rationale for regulation, the institutions, and empirical evidence associated with regulatory interventions. In addition, since US regulation is at the level of the states, the political institutions surrounding insurance regulation create interesting areas for study. Elections and politics, as does the interplay between the states and the federal government, affect regulation. Finally, this chapter concludes with a discussion of future regulatory issues.

Suggested Citation

  • Martin F. Grace, 2025. "Regulation of Insurance Markets in the USA," Springer Books, in: Georges Dionne (ed.), Handbook of Insurance, edition 0, pages 457-482, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-69674-9_16
    DOI: 10.1007/978-3-031-69674-9_16
    as

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