| Finance is the soul of modern economy. Its healthy operation and development are of great significance for promoting a nation's economic growth and ensuring its economic security. While enhancing financial regulation is one of the important and effective ways to achieve the above-mentioned goal. After the financial crisis in Asia in July 1997 how to enhance financial regulation,maintain market order has been an urgent problem. Therefore,a study on the regulation of insurance,which is an important component of finance,has both theoretical as well as practical significance. Taking the insurance regulation system in the U.S. as its object of study,this paper explores the historic development,systems,methods,existing problems and future tendency in American business insurance regulation,and conducts further study on its implications for Chinese insurance system.This paper consists of four parts.The Introduction part explains the reasons of choosing American business insurance regulation system as its object of study and the purpose of doing so. The U.S. is the largest nation in terms of business insurance and it has a sounder and better regulation system because of its "checks and balances" among branches,and clear and definite purposes. Through a systematic study on American business insurance regulation system,this paper aims to provide reference for Chinese business insurance regulation system.Part One analyzes the main contents of insurance regulation from a theoretical perspective. This part first defines insurance regulation and makes an analysis of insurance regulation by use of the incomplete information theory in information economics,then it elaborates the necessity of regulating the insurance industry in incomplete competition market. At last it summarizes the common ways and methods of insurance regulation in different countries in order to provide a framework.Part Two conducts a systematic analysis of American business insurance regulation system.First,it introduces the formation of American business insurance,that is,life insurance,accident and health insurance,property and liability insurance.Then this part reviews the historic development of American business insurance regulation so as to explain the reason of the carry-out of this system in different states in the U.S. The events and laws that have great influence on the formation and development of American business insurance regulation are as follows: The first one is Paul versus Virginia. After this event in 1969 the Supreme Court prescribed that the insurance business that doesn't belong to the inter-state business activity will not be regulated by the federal government,but by the states concerned. The second one is South-eastern Underwriters Association Case. In 1944 the Supreme Court overthrew the decision in Paul versus Virginia and decided that the federal anti-monopoly law could also be applied in insurance. From then on the Congress almost has the absolute control over insurance. The third one is Mc Carran-Ferguson Act. In 1945 the Congress passed the Mc Carran-Ferguson Act which made clear the Congress's control over insurance regulation,redefined the states' power and decided to regulate the insurance by the Congress and states.Then this part studies the American business insurance regulation system. The major responsibilities of business insurance regulation in the U.S. are undertaken by states. Every state regulates the insurance industry mainly through three institutions: State Congress,Courts and state insurance bureaus. State Congress is mainly responsible for making regulation lawsï¼›the Courts interpret those lawsï¼›state insurance bureaus conduct regulation according to the laws. In addition,there is a non-official organization----National Association of Insurance Commissioners(NAIC) which plays an important role in studying and making necessary regulation laws.In the following part regulation methods of American business insurance are dealt with,which include margin syst...
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