Wednesday, March 21, 2007
Insurance Regulation: Market or Government Failure?
More than 100 years ago, there was a shift in public sentiment towards increased regulatory oversight of large and concentrated industries that resulted from concern from potential monopoly harms. This regulatory oversight was innocuously justified as being in the public interest, and imposed on several industries, including railroads, telecommunications, trucking, insurance and airlines. Over the next fifty years, these regulations grew to include setting prices, approving market entry, and determining the services and markets to be served. Since the late 1970s, however, a wave of reform has led to a significant reduction in regulatory oversight in these industries, with one notable exception – the insurance industry – which remains largely regulated for consumer services.
Insurance Regulation: Market or Government Failure?
Source: American Consumer Institute
Insurance Regulation: Market or Government Failure?
Source: American Consumer Institute
Permalink posted by armandn @ 7:39 AM 
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