Insurance Regulation and Consumer Protection

Overview

When the insurance industry first began in the United States, providers were essentially unregulated, which caused unethical practices to proliferate in the industry, all at the expense of policyholders. Fortunately, the business of insurance has evolved over the years to an industry with many checks and balances. 

This course provides an overview of the history of insurance regulation in the United States and discusses the role of the National Association of Insurance Commissioners (NAIC) in drafting model laws and regulations to protect the insurance consumer. It also examines the various legislative acts and regulations that have emerged over the decades to protect consumers from unethical insurance practices. 

Learning Objectives

Upon completion of this course, students will be able to: 

  • describe the various court cases that have influenced how insurance is marketed and sold in the United States
  • describe the role of the National Association of Insurance Commissioners in regulating the insurance industry and why it issues model laws and regulations
  • describe the rules that insurers and producers must follow when collecting and disseminating confidential consumer health and financial information
  • explain the duties an insurer owes to policyholders during the claims settlement process

Designed For

Insurance producers at any level of their career
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