Tuesday, November 13, 2007
If You Deregulate (and Do a Few Other Things), They Will Come
An insurance plan for South Dakota
Filed As: General
What's in your wallet? Probably a credit card that has a South Dakota mailing address attached to it. Ever wonder why?
Though the state has a population of just over 781,000, more people work in the state work in the credit card industry than in farming. The reason: a favorable regulatory climate.
The Great Plains Public Policy Institute, an SPN-member organization in the state, says that South Dakota could benefit by becoming a national base for selling life and property insurance.
Aside from the fact that it doesn't include health insurance, the act is a good idea. Let states compete with each other to host insurance companies. The Institute believes that given its history, South Dakota could reinforce its position in the financial industry--and enjoy the jobs that come with it.The National Insurance Act would give homeowners', automobile, life (but not health) insurance companies a choice that banks have long had: the ability to pick between federal and state regulation.
- posted by John LaPlante
- 9:29 am
- 0 comment
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