I mentioned earlier today that I’m a bit busy at the day job.
Without going into specifics, one of the big items on my to-do list is culling through laws and regs in all 55 state/territorial jurisdictions in the U.S. to answer a couple of particular odd questions.
(Yes, normally this would be a compliance/government affairs function, not something you’d expect an actuary to do…but I wear many hats at the day job.)
Anyway, I’m now nursing bleary eyes and a nasty headache from deciphering legislative-speak, and trying to explain in both English and geek-speak some of the discrepancies I’ve found in answering my questions.
Many of you in the insurance industry probably have your own opinions about the pros and cons of federal regulation. This post shouldn’t be interpreted as my advocating a shift towards federal regulation of the insurance industry. (I have mixed thoughts, when in full pundit/blogger mode.)
But dagnabbit, having to consult 55 different sets of rulebooks, and coming up with potentially 55 different answers (OK, for my questions, only 21….mostly variations on a few themes) is not fun. If we must be a regulated industry, could we please have some consistency?
