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All regulatory systems are shaped by the subject matter they regulate. Insurance is no exception. Providing an explanation of the complex state-based regulatory system that governs the insurance industry in the United States, Fundamentals of Insurance Regulation presents the applicable statutes, regulations, and judicial decisions, as well as information about the industry's products, its operating procedures, distribution channels, and financial characteristics and performance. To round out the picture the book describes the regulatory process—its core objectives, how and by whom policy is formulated, and how the rules are enforced.