LAW 627 - Topics in Insurance Rgltn

Since its inception, insurance has evolved from a purely private contractual arrangement to a highly regulated industry. This course will explore how legal and regulatory principles have changed to address this ever more complex industry. We will also explore the public policy underpinning the development of our complex insurance regulatory system. Specific topics covered will include the creation and growth of the regulatory process, the state versus federal debate over the regulation of insurance, the powers of state insurance commissioners (both legal and practical), and how the regulatory process imposes specific restrictions and requirements on certain areas of insurance and certain types of insurance products. We will also explore how public policy pressures are currently affecting insurance law and regulation (e.g., legal and legislative reactions to the insurance industry’s handling of major catastrophes, such as hurricane Katrina, the attempts by both the states and the federal government to create residual markets to cover losses which the private market is unwilling to take on, and the effect of the current health care reform debate on the health insurance landscape). In addition to the writing requirement, students will have an opportunity to participate in a debate on the comparative benefits of state and federal regulation of insurance and to select a cutting-edge topic for class discussion.

This course satisfies the writing requirement.