[Oatka]

The "rationale" is the Tenth Amendment to the U.S. Constitution. The insurance industry has been regulated at the state level ever since it existed.

Taking into account as to how it stands now, would you be in favor of the States each removing that restriction? It seems to me to be a way out without getting the Feds involved. It also seems to me that that restriction has outlived whatever usefulness it might have had.

[Alberta's Child]

I would have no problem with states doing this collectively with no Federal involvement, but that is never going to happen anytime soon. Insurance is very expensive in some states, and in those states that is often a GOOD thing because the insurance companies must meet very stringent legal requirements that help ensure that they are solvent even if many claims are filed. New York is a good example of this. There’s no way the insurance commission in New York would ever reduce their regulatory requirements just to make sure NY-based companies could compete in a place like Mississippi.