So, we have to depend on Congress to make it law that they cannot regulate insurance? What could go wrong? /s
As I read, I did not see who does regulate or oversee or act as watchdog on insurance companies, even within individual States, let alone between States. I do not trust anyone, much, so that may be a flaw that needs consideration.
I don’t trust anyone either!
The plan is for congress to pass a law allows people to buy insurance from a carrier licensed in a different state.
That’s it.
The states continue to regulate the industry but are now forced to compete with other states.
So NJ can keep piling on the regulations and mandates but I can purchase my insurance in say KS, and KS will be the regulator of my company/policy.