Abstract:
Insurance regulation is not new to the United States and serves a vital purpose in protecting the United States public and the insurance industry from fraud and other abuses. One important and long lasting reinsurance regulation is the credit for reinsurance regulation that was been in use since 1984. This paper will discuss creation of the United States credit for •reinsurance regulation as well as the recent changes brought about by the Dodd-Frank Wall Street Reform and Consumer Protection Act. While discussing the previously mentioned subjects the paper will also examine why the regulation was created by discussing past reinsurance abuses, show the long history of the regulation's creation by the National Association of lnsurance Commissioners, and the recent modifications brought about by the United States federal government. Finally, this paper analyzes how the changes will impact how the regulation is used in the United States and how this will impact the insurance industry.
