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Run Time: 19:34
The Cost of Duplicate Regulation
It’s not surprising that duplicate regulation of insurance means added cost. That’s common sense. But how much added cost? Tyler Leverty, PhD, a professor at the University of Iowa’s Tippie College of Business in Iowa City, decided to find out. He compared multistate commercial liability insurers that deal with several state regulators with risk retention groups that only have to deal with one state. In this interview with Insurance Journal’s Andy Simpson, Leverty discusses the impact of multistate regulation on standard insurers’ expenses and how much of these costs they pass along to insurance buyers.