Grading State Insurance Commissions
In March, a collaborative investigation graded each state government on its ability to legislate against corruption and enforce those laws. Within its analysis, the independently monitored State Integrity Investigation also handed out grades for each insurance commission on issues such as whether it is protected from influence by special interest, whether conflict of interest regulations exist and whether there is public disclosure of documents filed by insurance companies.
Those in Connecticut and Mississippi will be happy to note that their states were head of the class, with each receiving an “A.” Alabama, Louisiana, New Hampshire, New Jersey and Washington have nothing to hang their head about either-each scored a “B+.”
The news wasn’t so good throughout the nation, however. The average grade was a “D+” and 16 states failed. Wyoming, which scored 26 on a 100-point scale, finished dead last. Unfortunately, no amount of studying can help Cheyenne or any of the other low-ranking capitals turn around their insurance commissions. It will take legislation, regulation and enforcement for them to improve.