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| *Loan,banking and credit>>>state insurance |
Who regulates the Insurance Industry, the federal government or each State? |
Who regulates the Insurance Industry, the federal government or each State? Both. Day to day regulation of rates, policy forms, agents, etc. is done at the state level through the state department of insurance. Various federal laws also apply to the extent that they are not superceded by state law. Primarily the states. Each state has an Insurance Commissioner. All of the insurance commissioners collectively make up the NAIC (National Association of Insurance Commissioners). While the NAIC issues guidelines and prototype law, the individual states have final control over the running of their state. i believe it is a little of both. but mostly the state itself Individual states have directors of insurnace. |
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