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KS Commissioner Praeger: We Need State Regulation

The established system of state-based insurance regulation is being attacked by insurers hoping that a federal regulator will be more lax, writes Kansas Insurance Commissioner...
May 27, 2009

The established system of state-based insurance regulation is being attacked by insurers hoping that a federal regulator will be more lax, writes Kansas Insurance Commissioner Sandy Praeger. Writing in the Witchita (KS) Eagle, she notes that while many financial institutions regulated by federal officials struggled in the past year, the strict requirements of state-level regulators kept the insurance industry strong. "Our current system of insurance regulation is under attack by large insurance organizations and members of Congress," she writes. "Proposed reforms would remove successful state regulation in favor of federal oversight. But state regulation has guided insurance companies through many financial solvency issues."

[We] Need State Insurance Regulations (Wichita KS Eagle 5/22/09)