Rather, it is intended to give a broad overview of the regulation's requirements. Group markets, particularly employee-based groups, reduce advertising and overhead costs by providing a captured audience for the sale of an insurance … Guidance: $5,000,000 of insurance is required, for the reasons given above. This guide highlights the following requirements of Regulation CC: Making funds available for withdrawal within the times prescribed by the regulation The table in §387.9 refers to “in bulk Division 2.1 or 2.2 materials.” The definition of in bulk in §387.5 includes “the transportation, as cargo, of property … in containment systems with capacities in excess of 3,500 water gallons.” Insurance companies have group markets for most major health/life products sold, including health insurance, disability insurance, and life insurance. The full regulation is available on the Government Printing Office's website. State regulation has proven that it effectively protects Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed by statutory law enacted by the state legislatures. The Purpose and Structure of Insurance Regulation The fundamental reason for government regulation of insurance is to protect American consumers. Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. State systems are accessible and accountable to the public and sensitive to local social and economic conditions. motivations are relevant and manifold so are the challenges for global insurance regulation the following challenges stand out 1 insurance is a less global business than many parts of banking and other financial activities such as brokerage and asset management the reason is that those insurance activities that account for the bulk of our. Insurance underwriters are permitted to discriminate in favor of some insurance buyers over others, but the reasons must be valid. 2 The Rule specifies a series of administrative, technical, and physical security procedures for covered entities to use to assure the confidentiality, integrity, and availability of e-PHI. The final regulation, the Security Rule, was published February 20, 2003. The third goal of insurance regulation is to prevent unfair discrimination. Maintaining insurer solvency. Principles of Risk Management and Insurance, 11e (Rejda) Chapter 8 Government Regulation of Insurance 1) Reasons for regulation of insurance include which of the following? This regulation is intended to provide requirements for all long-term care insurance contracts, including qualified long-term care insurance contracts, as defined in the NAIC Long-Term Care Insurance Model Act and by Section 7702B(b) of the Internal Revenue Code of 1986, as amended. I. II. Regulation B's prohibition of advertising that would discourage potential applicants from applying for loans is a crucial part of redlining cases. insurance called Qualified Long-Term Care Insurance. For instance, underwriters may charge a higher or … The Purpose and Struc ture of Insurance Regulation The fundamental reason for government regulation of insurance is to protect American consumers. Ensuring reasonable rates. 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