Chapter 1 New Jersey
Insurance Laws and
Regulations questions and
answers 2025 latest update
Paul vs. Virginia - answer Supreme Court ruled that insurance is not a
transaction of interstate commerce and therefore cannot be subject to
federal regulation
South-Eastern Underwriters Association SEUA - answer United States vs
SEUA ruled that insurance is interstate commerce. Because of its
interstate nature, insurance would be subject to federal regulations.
Public Law 15- McCarran-Ferguson Act - answer Jurisdiction for regulating
interstate insurance was left with each individual state it had been for
many years, but an important amendment was added that will permit the
federal government to take over insurance regulation whenever the state
regulation became inadequate.
National Association of Insurance Commissioners - answer NAIC goal is to
promote uniformity among the states
Legislative - answer Makes laws
Judicial - answer Interprets the laws
Executive - answer The head of the executive branch in NJ is the
governor
Commissioner of Insurance - answer Appointed by the governor, with the
advice and consent of the state senate
Insurance Laws and
Regulations questions and
answers 2025 latest update
Paul vs. Virginia - answer Supreme Court ruled that insurance is not a
transaction of interstate commerce and therefore cannot be subject to
federal regulation
South-Eastern Underwriters Association SEUA - answer United States vs
SEUA ruled that insurance is interstate commerce. Because of its
interstate nature, insurance would be subject to federal regulations.
Public Law 15- McCarran-Ferguson Act - answer Jurisdiction for regulating
interstate insurance was left with each individual state it had been for
many years, but an important amendment was added that will permit the
federal government to take over insurance regulation whenever the state
regulation became inadequate.
National Association of Insurance Commissioners - answer NAIC goal is to
promote uniformity among the states
Legislative - answer Makes laws
Judicial - answer Interprets the laws
Executive - answer The head of the executive branch in NJ is the
governor
Commissioner of Insurance - answer Appointed by the governor, with the
advice and consent of the state senate
