selling across state lines should also be left up to the individual states .... not mandated by fedgov ...
It seems the Commerce Clause in the Constitution would override anybody who would prevent an insurer from selling across state lines.
I suspect the reason we have 50 State Insurance Commissions is that the Insurance Companies like it that way.
No. Insurance is a financial service and different states have different rules on what can be sold to their residents.
All types of insurance get sold by companies across state lines now. The policies must be worded to be compliant in the state it is sold into.
An insurance policy is just a contract.
And also insurance companies would rather not deal with 50 different regulatory agencies. It is easier for them to deal with one.
I’d have to research it further, but I think the SCOTUS ruled that an insurance policy is a state’s rights issue because it is a contract between you and the insurance company. (Not a “commerce” issue per se). YMMV