The article discusses the insurance regulation in the U.S. and its role in the financial crisis. It states that the collapse of American International Group (AIG) was not an insurance regulatory failure. It describes the scope and approach to state insurance regulation and the development and functioning of the National Association of Insurance Commissioners (NAIC). The role played by the courts in insurance regulation is also addressed.
Jeffrey E. Thomas,
Insurance Perspectives on Federal Financial Regulatory Reform: Addressing Misunderstandings and Providing a View from a Different Paradigm,
Vill. L. Rev.
Available at: http://digitalcommons.law.villanova.edu/vlr/vol55/iss3/8