Regulation of Insurance Markets in the USA

Martin F. Grace ()
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Martin F. Grace: University of Iowa

A chapter in Handbook of Insurance, 2025, pp 457-482 from Springer

Abstract: 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.

Keywords: Insurance regulation; Institutions; Market failures; G28; G22; L51 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-69674-9_16

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DOI: 10.1007/978-3-031-69674-9_16

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