Book excerpt: The future of the insurance regulation begins now For those involved with the insurance industry, from investmentprofessionals to policy makers, and regulators to legislators,tremendous change is coming. With insurance premiums constitutingan ever-growing portion of annual U.S. GDP and provisions of theDodd-Frank Act specifically calling for modernization of insuranceregulations, the issues at hand are pervasive. In ModernizingInsurance Regulation, these issues are described against abackdrop of the political and industry discussions that surroundinsurance, regulation, and systemic risk. Experts Viral V. Acharyaand Matthew Richardson discuss a variety of issues with topthinkers in the fields of finance, derivatives, credit risk, andbanking to bring to light the most germane elements of this ongoingdiscussion. In Modernizing Insurance Regulation, Acharya andRichardson call on the expertise of all the relevant stakeholderswithin government, academia, and industry to offer a well-roundedand independent view of insurance regulation and how the evolutionof this key industry affects the U.S. economy now and in thefuture. Provides an overview of the feasibility of maintaining astate-level regulatory structure Offers a view of the issues from top academics, industryleaders, and state regulators Explores the debate surrounding the insurance industry andsystemic risk Provides an in-depth look at upcoming changes under theDodd-Frank Act Modernizing Insurance Regulation provides a look into thecrucial changes coming to insurance regulation and an overview ofhow those changes will affect almost everyone.