Federal Regulation of Auto-Insurance

[ericgorr]

I was wondering what, if any, federal regulations affect the auto insurance industry...?

I would assume that most, if not all, auto-insurance companies are organized as corporations, which impose a number of federal regulations.

A, perhaps, more specific question would be what, if anything, prevents me from joining with a few million of my close personal friends and going to an insurance company to extract better rates and other concessions?

 

[arnguy]

As with any other type of insurance, regulation is left to the 50 states. Thus, there are 50 different state Insurance Departments. The fact that insurers are sometimes corporation,s with regard to their business taxes, then Federal as well as State regulations apply. Of course, with the Health Insurance Reforms, the Federal governement is interceding in the control of that type of insurance, if not taking it over completely.

 

[VolAgent]

blah, blah, blah.

So utterly pointless. But it got your link out, right?