Noonan.Reg

Should insurance regulation in the U.S. be state or federal? The longstanding answer is state, as evidenced by three seminal developments: Paul v VA (1868), U.S. v Southeast U/W Association (1944), McCarran-Ferguson Act (1945). (Significant overlap with Mayhall.USreg)

Pop Quiz

• What 2 entities did the Dodd-Frank legislation of 2010 create in the United States?

Keywords

Paul v VA, U.S v SEUA, McCarran-Ferguson Act

In Plain English!

• This U.S-centric reading has not been tested since 2013. The main issue is whether insurance in the U.S. should be regulated by the federal or state government. There are 3 relevant cases:
  • Paul v Virginia (1868)
  • SEUA Case (1944) - Southeastern U/W Association
  • McCarran-Ferguson Act (1945)

mini BattleQuiz 1 You must be logged in or this will not work.

• The last little piece of this reading lists the pros and cons (advantages and disadvantages) of U.S. federal regulation of insuranc.

mini BattleQuiz 2 You must be logged in or this will not work.

BattleCodes

• Memorize:
  • 3 cases relevant to federal regulation
  • advantages and disadvantages of federal regulation in the U.S.

• Conceptual:
  • The U.S. tends to favour state regulation over federal regulation.

• Calculational:
  • none

Full BattleQuiz You must be logged in or this will not work.

POP QUIZ ANSWERS

• FIO: Federal Insurance Office
• FSOC: Financial Stability Oversight Council