Level: Beginner
Why you need this course:
After completing this course, you’ll have a basic understanding of how insurance is regulated and how insurance rates are developed.
Upon successful completion of this course, you should be able to:
- Describe the purpose and activities of the National Association of Insurance Commissioners (NAIC).
- Explain how insurance rates are developed.
- Describe the objectives of rate regulation.
- Describe the different types of insurance rating laws.
- Explain how insurance regulators monitor insurers´ financial condition and protect consumers.
- Explain how the excess and surplus lines market meets the needs of various classes of business that are often unable to find insurance in the standard market.
- Summarize the historical and present-day effect on insurance regulation of the following court decisions, legislation passed, and legislation under review:
- U.S. Supreme Court decision in the South-Eastern
Underwriters Association case
- McCarran-Ferguson Act
- Gramm-Leach-Bliley Act
- State Modernization and Regulatory Transparency Act (SMART Act)
Cost: $20 per Professional Development Hour (PDH). Information on PDHs provided can be found here.
Insurance Regulation Topics Include:
- The National Association of Insurance Commissioners (NAIC)
- How insurance rates are developed
- The objectives of rate regulation
- Different types of insurance rating laws
- How insurance regulators monitor insurers’ financial condition and protect consumers
- How the excess and surplus lines market meets the needs of various classes of business that are often unable to find insurance in the standard market
- Specific court decisions, legislation passed, and legislation under review, including the U.S. Supreme Court decision in the South-Eastern Underwriters Association case
Additional Course Resources
Additional Knowledge Solutions
E-mail: customerservice@TheInstitutes.org
Phone: (800) 644-2101
Fax: (610) 640-9576
Mail: The Institutes
720 Providence Road
Suite 100
Malvern, PA 19355-3433
Customer Service hours are Monday through Friday, 8:00 a.m. to 6:00 p.m. eastern time.
