BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Who regulates insurance companies in the United States?
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The federal government
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State governments
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Local governments
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No one ____ they exist only in the market economy with no regulation
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Explanation:
Detailed explanation-1: -The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia, and five U.S. territories.
Detailed explanation-2: -The insurance industry has been regulated primarily at the state level rather than by the federal government. State legislatures are responsible for establishing and overseeing state insurance departments and regularly review and revise state insurance laws.
Detailed explanation-3: -In California, health insurance is regulated by the California Department of Insurance (CDI).
There is 1 question to complete.