Journal of Insurance Regulation最新文献

{"title":"Time to dust off the anti-rebate laws","authors":"Jamie Parson, David C. Marlett, Stuart Powell","doi":"10.52227/24149.2017","DOIUrl":"https://doi.org/10.52227/24149.2017","url":null,"abstract":"This paper evaluates the recent call for change or repeal of the current antirebate laws by reviewing the evolution of the anti-rebating statutes, evaluating the current application and exceptions to the laws and discussing the options in favor of and against repeal. The paper concludes with recommendations for those states considering change to current laws.","PeriodicalId":261634,"journal":{"name":"Journal of Insurance Regulation","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116483276","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Challenges for the insurance industry in the future","authors":"J. Nicholson","doi":"10.52227/24790.2019","DOIUrl":"https://doi.org/10.52227/24790.2019","url":null,"abstract":"The author discusses several development and trends related to insurance that were presented in May 2019 at the Florida State University Future of Insurance Forum, including the role of technology and catastrophe exposures. Advances in technology are changing the insurance industry, and its future workforce will require new skill sets and greater flexibility. The growth of exposures in coastal states, flood zones and earthquake-prone areas will necessitate updated tools for state insurance regulators and rating agencies to monitor financial solvency. More needs to be understood about climate change, the climate models and whether man-made climate change can be linked as a cause of future disasters. Although the loss adjustment processes of insurers have improved over time, the settlement of catastrophic claims entails continuing problems. Insurance linked security (ILS) products are serving to provide additional capital and to stabilize the rapidly growing reinsurance market.","PeriodicalId":261634,"journal":{"name":"Journal of Insurance Regulation","volume":"104 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121693685","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Genetic Testing in Underwriting: Implications for Life Insurance Markets.","authors":"P. Born","doi":"10.52227/26103.2019","DOIUrl":"https://doi.org/10.52227/26103.2019","url":null,"abstract":"This paper discusses and analyzes the problems for life insurers when individuals obtain results from genetic tests that can have bearing on their estimated mortality. Some forms of genetic information are valuable in the underwriting process, especially test results that may be relied on by medical doctors for treatment. To the extent that test results lead to better medical care, underwriting consequences may be favorable. If the information is not allowed for underwriting, insurers will experience some degree of adverse selection, which will raise the cost of coverage for all applicants and reduce the availability of coverage. This paper considers one recent proposal in the state of Florida to extend a ban on the use of genetic test results in health insurance underwriting to life insurance, disability and long-term care (LTC). This paper concludes that the financial consequence of a ban on the use of genetic information in life insurance underwriting could significantly increase the risk of insolvency; legislation that imposes restrictions on the use of genetic information may be a reasonable compromise to a complete ban.","PeriodicalId":261634,"journal":{"name":"Journal of Insurance Regulation","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123375214","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Regulation and surplus lines activity","authors":"C. Baggett, Cassandra R. Cole","doi":"10.52227/26010.2018","DOIUrl":"https://doi.org/10.52227/26010.2018","url":null,"abstract":"Surplus lines insurers play a crucial role in the marketplace. These companies commonly provided coverage for high capacity, distressed or unique risks, as well as new or emerging risks for which coverage is not available in the admitted market. Though surplus lines insurers play a valuable role in the marketplace and business written by these insurers have grown over time, there has been little academic literature that focuses on this segment of the industry. In this study, we examine whether surplus lines activity differs across regulatory environments, where activity is measured by surplus lines premiums, the number of active surplus lines companies and the concentration of the surplus lines market within each state. We find a positive correlation between premiums written and several regulatory measures, such as greater capital and surplus requirements, higher premium taxes and the existence of state surplus lines associations. The positive correlation with capital and surplus requirements and surplus lines associations is also observed when examining the proportion of surplus lines insurers in states. Finally, we find strong correlations between the concentration of the surplus lines market in states and all regulatory measures considered. 1 Journal of Insurance Regulation © 2018 National Association of Insurance Commissioners Introduction There are several different types of insurers operating in the marketplace today. These insurers can serve different purposes, and each has unique advantages relative to other structures. While most insurance is placed in the standard or admitted market, there are risks the admitted market is unable, or unwilling, to insure. Excess and surplus lines companies commonly insure these risks. Prior literature recognizes the importance of surplus lines insurers within the overall insurance economy, suggesting that the surplus lines market functions as a safety value to the standard market, specifically because surplus lines insurers are capable of solving market availability issues (Brockett, Witt, and Arid, 1990).1 Thus, one could argue the most salient feature of the surplus lines market is ensuring the availability of insurance coverage to all consumers who wish to purchase. Surplus lines insurers play a crucial role in the marketplace, primarily providing coverage for high capacity, distressed or unique exposures, as well as emerging risks. Often, coverages originally developed by surplus lines insurers will be offered by admitted carriers in the future. For example, while consumers can now purchase employment practices liability, directors’ and officers’ liability, medical malpractice, and cyber-risk policies in the admitted market, these coverages were initially written only by surplus lines insurers (ISLM, 2017). More recently, surplus lines insurers began providing coverage for ride-sharing services and drone activities (A.M. Best, 2017). Relatively speaking, the surplus lines market is deregulated. That ","PeriodicalId":261634,"journal":{"name":"Journal of Insurance Regulation","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116163231","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Social media liability exposures","authors":"Kevin T. Merriman, David M. Knapp, Meghan E. Ruesch, Nicole M. Weir","doi":"10.52227/26014.2019","DOIUrl":"https://doi.org/10.52227/26014.2019","url":null,"abstract":"This article is the first in a two-part series. Part I discusses the rise of social media use and the corresponding increase in liability exposures for individuals and businesses. Part II discusses coverage issues that arise from such exposures under comprehensive general liability (CGL) and homeowners policies.","PeriodicalId":261634,"journal":{"name":"Journal of Insurance Regulation","volume":"67 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124544763","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Licensing and reporting in the U.S. pet insurance market","authors":"Jill Bisco, Stephen G. Fier","doi":"10.52227/22108.2020","DOIUrl":"https://doi.org/10.52227/22108.2020","url":null,"abstract":"In this study, the authors discuss the pet insurance market and offer recommendations regarding licensing and reporting that they believe will better serve consumers and improve market transparency.","PeriodicalId":261634,"journal":{"name":"Journal of Insurance Regulation","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126615424","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A framework for defining a role for insurance in \"uninsurable\" risks: insights from COVID-19","authors":"H. Kunreuther, J. Schupp","doi":"10.52227/25093.2021","DOIUrl":"https://doi.org/10.52227/25093.2021","url":null,"abstract":"Recognizing the challenges facing insurers and the public sector in dealing with\u0000the COVID-19 pandemic, this paper proposes a decision-making framework for\u0000evaluating the performance of risk management strategies for dealing with the\u0000impacts of risks traditionally considered by insurers as uninsurable. We discuss\u0000three alternative options through which the property/casualty (P/C) industry may be\u0000able to play a role in supporting businesses, nonprofits, and the public sector in\u0000managing future pandemics and other catastrophic and systemic risks.","PeriodicalId":261634,"journal":{"name":"Journal of Insurance Regulation","volume":"98 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134377766","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Modern regulatory frameworks for the use of genetic and epigenetic underwriting technology in life insurance","authors":"Nathaniel S Shapo, Martin S. Masar III","doi":"10.52227/25063.2020","DOIUrl":"https://doi.org/10.52227/25063.2020","url":null,"abstract":"Following Florida's recent prohibition on the use of genetic information in life insurance risk classification, this paper analyzes insurance regulatory law and policy pertaining to the use of modern molecular biotechnology and InsurTech--particularly in the developing field of epigenetics, which studies the area above and around a human cell's immutable DNA, and the changes in gene expression brought about by a person's behavior and experiences. Public policy to date, from the health insurance prohibitions in the 2008 federal Genetic Information Nondiscrimination Act (GINA) to the 2020 GINA-like Florida prohibitions for life insurance, seeks to redress concerns that genetic information identifying pre-dispositional risk of disease could be used to penalize otherwise healthy insureds who have not manifested a diagnosable health condition. In contrast, epigenetic information, derived from a noninvasive saliva specimen, can be used to identify current health and wellness statuses, both negative and positive, that result from behavioral choice (such as tobacco, alcohol and drug use, as well as diet and exercise), with more precision than traditional, incumbent paramedical testing methods. By providing more accurate information about insureds' current and changeable health status, while avoiding the perceived unfairness of immutable genetic information, the use of epigenetic testing in life insurance underwriting would conform to the fundamental regulatory norms of information transparency and symmetry; accurate risk classification; sound risk pool construction; and a resulting alignment of interests between insurers and insureds","PeriodicalId":261634,"journal":{"name":"Journal of Insurance Regulation","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133482728","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Earthquake Insurance Protection Gap: A Tale of Two Countries","authors":"Mary Kelly, Steven G. Bowen, R. G. McGillivray","doi":"10.52227/23843.2021","DOIUrl":"https://doi.org/10.52227/23843.2021","url":null,"abstract":"In this paper, we examine reasons why take-up rates for earthquake insurance are significantly higher in the Lower Mainland of British Columbia than in western Washington state even though earthquake risk is largely the same. Achieving and maintaining high insurance take-up rates for catastrophic events matters because this can play an important role in improving the resiliency of communities. After exploring several factors known to influence the supply and demand of insurance for high-severity but low-frequency events, we find only two key differences: 1) disaster assistance is more readily available in the U.S.; and 2) Canadians are more willing to purchase earthquake insurance when they are told they should. We conjecture that many policy options to increase insurance take-up rates, such as product redesign or cross subsidization, are not likely to be effective in Washington. Making insurance mandatory—either via legislation, making earthquake coverage a prerequisite for a mortgage or embedding it into property taxes—might be the only viable way to increase take-up rates, although these options may be politically difficult to enact.","PeriodicalId":261634,"journal":{"name":"Journal of Insurance Regulation","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130730665","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Expanding paid sick leave programs in the wake of COVID-19","authors":"Paul C. Schriefer, P. Born","doi":"10.52227/23454.2020","DOIUrl":"https://doi.org/10.52227/23454.2020","url":null,"abstract":"The COVID-19 pandemic is having a profound effect on the U.S. workforce. Employers are struggling to make workforce decisions with the added constraint of preventing further spread of the virus, including the number of employees needed to operate at less-than-capacity and the number of employees that can work from home. Existing company policies and employment contracts may not effectively address employees’ personal experience with a situation like COVID-19, which may include a medical diagnosis of the virus, the need to quarantine due to exposure to another infected person, or the need to care for a child whose school or daycare is shut down due to the pandemic. In this paper, we explore the implications of the COVID-19 pandemic for employers providing paid sick leave and paid family medical leave. Employers are facing a growing number of lawsuits alleging noncompliance with the Families First Coronavirus Response Act (FFCRA). Paid sick leave mandates may be increasing employers’ exposure to employment practices liability insurance (EPLI), thus further complicating the legal considerations for employers as they navigate evolving guidelines for employee safety in the midst of a pandemic.","PeriodicalId":261634,"journal":{"name":"Journal of Insurance Regulation","volume":"359 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124521162","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}