Discussion:
New Employee Orientation
Assume you are the Human Resources Manager for a large insurance company and you are responsible for creating a PowerPoint presentation for new employees of the company. Your boss wants a presentation that will give an overview of the insurance market, how the economy plays a role in the business, and issues surrounding insurance regulations. Your presentation must address the following objectives:
Describe the main participants in the insurance market.
Explain how the economic theory of supply and demand applies to the insurance market.
Describe how the courts, the law, and the insurance commissioner provide consumer protection in the insurance market.
Define the term regulation and give four reasons why the insurance industry and the insurance transaction are comprehensively regulated.
Identify the important landmarks in the history of insurance regulation.
Explain the role the National Association of Insurance Commissioners plays in insurance regulation.
Describe the regulatory activities of state insurance departments, including solvency regulation, rate regulation, investment regulation, and regulation of agents and company officers.
Your PowerPoint presentation should include at least 14 slides, excluding the title slide and reference slide. Make sure to cite all sources used, including your textbook.
Dorfman, M. S. (2008). Introduction to risk management and insurance (9th ed.). Upper Saddle River, NJ: Prentice Hall.