Excessive regulation and micromanagement of the insurance marketplace is a threat to consumers, charges David Snyder, VP and associate general counsel, public policy for the American Insurance Association (AIA).
“Some aspects of the current system are diametrically opposed to real consumer protection,” Snyder says. “This leads to reduced capital in the market, the inability to provide customers the products they need, regulatory overhead, prices that fail to reflect risk, and/or reduced competition.”
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