Modernizing Insurance Regulation
By John Biggs and Matthew Richardson
With insurance premiums constituting a growing portion of the annual US GDP and provisions of the Dodd-Frank Act specifically calling for the modernization of insurance regulations, the insurance industry is facing a number of changes. In Modernizing Insurance Regulation, Professors John Biggs and Matthew Richardson, editors, address these issues against a backdrop of the political and industry discussions that surround insurance, regulation and systemic risk. They discuss a variety of issues with top thinkers in the fields of finance, derivatives, credit risk and banking, calling on the expertise of relevant stakeholders within government, academia and industry to offer a balanced and independent view of insurance regulation and how the evolution of the industry affects the US economy now and in the future. The book includes such topics as the feasibility of maintaining a state-level regulatory structure, the debate surrounding the insurance industry and systemic risk, and the upcoming insurance changes under the Dodd-Frank Act. The book is written for all individuals involved with the insurance industry, including practitioners, investment professionals, policy makers, regulators and legislators.