...Fitch Ratings views U.S. insurance regulation as highly developed, relatively transparent and effective. Insurance regulation is conducted primarily at the state level, focused on protecting policyholders and promoting insurance company solvency. State regulators have broad authority over insurers domiciled in their state with respect to, among other things, standards of solvency, financial reporting, pricing, investments, market conduct and licensing. Health insurers are subject to U.S. federal regulation associated with legislation such as the Affordable Care Act, the Employee Retirement Income Security Act of 1974, and the Health Insurance Portability and Accountability Act of 1996, among others, as well as various presidential executive orders. Compliance with such legislation and executive orders is primarily overseen by the U.S. Department of Health and Human Services and the U.S. Department of Labor. U.S.-based health insurers with operations in international markets are also subject...
