Educating consumers is practicing law. Meaning The insurance commissioner is giving advice. Since the insurance Commisioner does not sell insurance, any information about insurance products is advice. Regulators were greated to protect comsumer\’s from insolvency of insurance companies. If insurance companies provide fake policies, let the courts protect the people not the insurance commissioner. Insurance companies use the commissioner to protect them from the attorneys.
With all due respect, that\’s a ridiculous notion. There is plenty of educating that does not constitute the practice of law. The role of regulators is so much more than solvency, though that is a key area. Good for them in making a serious efort to tackle insurance consumer education. They have already been handling consumer complaints for years–what\’s wrong with a little prevention?
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good luck!
Educating consumers is practicing law. Meaning The insurance commissioner is giving advice. Since the insurance Commisioner does not sell insurance, any information about insurance products is advice. Regulators were greated to protect comsumer\’s from insolvency of insurance companies. If insurance companies provide fake policies, let the courts protect the people not the insurance commissioner. Insurance companies use the commissioner to protect them from the attorneys.
With all due respect, that\’s a ridiculous notion. There is plenty of educating that does not constitute the practice of law. The role of regulators is so much more than solvency, though that is a key area. Good for them in making a serious efort to tackle insurance consumer education. They have already been handling consumer complaints for years–what\’s wrong with a little prevention?