Liberalize Homeowners, Automobile, Life, and Commercial Insurance Regulation

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A confusing patchwork of state-level regulations currently governs insurance in the United States. This balkanized regulatory structure hampers innovation, raises insurance rates for those who behave prudently, and needlessly expands government bureaucracy. In the realms of homeowners’, automobile, and life insurance—the types of insurance that most Americans buy for themselves—the United States needs a national insurance market that leaves rate regulation to market forces. Three major options exist for creating such a market.