| State
insurance laws impose many requirements and limitations on the way insurance
companies conduct their marketing, underwriting (determining which policyholders
or risks to accept or reject for coverage) and rate making activities. In some
instances, these laws also limit an insurance company's ability
to cancel or discontinue coverage once a policy has been issued. In general, there
are many restrictions and limitations applicable to personal or "consumer"
insurance, such as personal auto, homeowners and individual or small
group health insurance. There usually are fewer restrictions applicable
to business and commercial insurance. The specific requirements and limitations
often vary a great deal from state to state. |
