Sufficient laws governing insurance are on state books. They force insurers to tailor offerings for each market, discourage one-size-fits-all policies and encourage innovation. Legislatures are far more nimble than Congress at reforming insurance laws, and consumers everywhere would lose if the federal government were left to investigate fraud or resolve claim disputes.
States have successfully regulated insurance since Oklahoma was Indian territory. But preserving state regulation of the insurance industry isn’t a matter of territory or tradition. It is a matter of trust.
John D. Doak is insurance commissioner of Oklahoma.
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By Rand Paul
Obama acts as though we no longer have a Constitution