life, accident, and health insurance chapter 2 Exam questions with complete solutions

3 channels of regulation - ANSWER-ferderal regulation state regulation self-regulation paul v. virginia - ANSWER-ny insurer selling insurance in Virginia. did not comply with state law. court decision was selling insurance across state lines is not interstate commerece and should be regulated by local law south-eastern underwrites decision - ANSWER-paul v. virginia was overturned stating insurance transacted across state lines is considered interstate commerce McCarran-Ferguson Act - ANSWER-federal government has the right to regulate the business of insurance only to the extent that such a business is not regulated by state law privacy act of 1974 - ANSWER-privacy protection study commision was established job privacy protection study commission - ANSWER-the collectors of personal information users of personal information manner in which personal information is circulated Personal Privacy in an Information Society - ANSWER-title of the report which summarized the the findings of the job privacy protection study commission 3 goals of the personal privacy in an information society report - ANSWER-minimize intrusiveness be fair and impartial in collecting, analyzing, and presenting info and reports make it know to the public that they can expect personal info to be handled in confidence