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States should strengthen regulatory oversight of the safety and soundness of insurance companies. They should ensure that consumer funds are protected in the event of insurance company failure.
States should authorize their insurance commissioners to regulate all insurance companies conducting business in the state.
Policymakers should require fair terms and conditions in insurance to ensure availability and coverage. In particular, age alone should not be used to limit coverage.
States should require insurance companies to make their products available at fair and reasonable rates, including to people with disabilities, preexisting conditions, or chronic illnesses.
Insurance companies should be required to provide clear, informative outlines of coverage before customers buy policies. They should reduce the complexity of consumer decision-making.
Policymakers should require insurance claims to be processed quickly and accurately.
Policyholders should be compensated reasonably and in a timely manner for claims resulting from auto accidents. Auto insurance should provide adequate coverage at a reasonable cost.
Policymakers should ensure the availability and affordability of insurance coverage for natural disasters.
States should explore new options to guarantee the availability of liability insurance to those who need it.