Insurance and Finance

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CFTC Rulemaking Process Needs Greater Scrutiny, Transparency

Regulators, confident in their own virtue and ability, have typically seen little need to have anyone check their work. As a result, regulatory requirements are flowing out of agencies such as the Commodity Futures Trading Commission without the required public, judicial, and legislative oversight. As the government has expanded, Congress increasingly has regulated by delegation, leaving major policy decisions to regulatory agencies charged with implementing broad statutory mandates. Force of...

‘Consumer-Friendly’ Insurance Laws More Bane than Boon to Homeowners

Reflexively responding to the 2008 financial crisis, many government regulators moved to reduce the burden of toxic assets in the financial market, after widespread speculation instigated a credit crunch and contributed to the economic slowdown. Many state governments continue to use “consumer interests” as a justification to force other industries—in this case, home insurance companies—to shoulder more toxic assets. Under the Texas Insurance Code, home insurance companies are not allowed to...

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