I take exception to these two individuals saying that they propose a system that “reacts quickly to rapid changes in the marketplace and provides efficiency and convenience to customers”. What federal agency currently meets those criteria? The state system may be far from perfect, but anybody who believes the feds can meet these requirements is not just crazy, but also stupid.
Currently each state wants to influence their control by requiring a multitude of restrictions, terms and conditions about what the policy can and can not do. When coverage is in several states, the insured, agent and carriers get so lost in the paper work, we lose track of what the coverage is meant to be. A single government agency with a single set of regulations is way past due. It will make for a better policy for all concerned.
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I take exception to these two individuals saying that they propose a system that “reacts quickly to rapid changes in the marketplace and provides efficiency and convenience to customers”. What federal agency currently meets those criteria? The state system may be far from perfect, but anybody who believes the feds can meet these requirements is not just crazy, but also stupid.
Currently each state wants to influence their control by requiring a multitude of restrictions, terms and conditions about what the policy can and can not do. When coverage is in several states, the insured, agent and carriers get so lost in the paper work, we lose track of what the coverage is meant to be. A single government agency with a single set of regulations is way past due. It will make for a better policy for all concerned.