Assignment:
New Employee Orientation
Assume you are the Human Resources Manager for a large insurance company and you are responsible for creating a PowerPoint presentation for new employees of the company. Your boss wants a presentation that will give an overview of the insurance market, how the economy plays a role in the business, and issues surrounding insurance regulations. Your presentation must address the following objectives:
1- Describe the main participants in the insurance market.
2- Explain how the economic theory of supply and demand applies to the insurance market.
3- Describe how the courts, the law, and the insurance commissioner provide consumer protection in the insurance market.
4- Define the term regulation and give four reasons why the insurance industry and the insurance transaction are comprehensively regulated.
5- Identify the important landmarks in the history of insurance regulation.
6- Explain the role the National Association of Insurance Commissioners plays in insurance regulation.
7- Describe the regulatory activities of state insurance departments, including solvency regulation, rate regulation, investment regulation, and regulation of agents and company officers.