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11 J. Ins. Regul. 1 (1992-1993)

handle is hein.journals/jloins11 and id is 1 raw text is: Editor's Perspective Seldom do so many provocative views on the same subject come to- gether simultaneously for our Journal readers. This issue provides one of those occasions. Of the eight major articles, five were written by regulators about rate regulation and solvency-two concerns that indi- vidually and collectively account for much of the waking time of in- surance regulators and insurance companies across the nation. The sixth article-Excess Returns and the Underwriting Cycle in the Property-Liability Insurance Market by Profs. Mark Browne and Robert Hoyt of University of Georgia'-is closely related to the first five. First, two commissioners set the scene in the Point-Counterpoint State or Federal Regulation? Politics, Players, Prospects. Comm. Earl Pomeroy and Comm. Robert Haase have both spent so much time appearing before Congressional committees that soon they may be asked to take a position on statehood for the District of Columbia! As a result of their experiences they have formed some definite opin- ions on the likelihood of further federal incursions into regulation of insurance. Their clear-eyed and candid appraisals2 of what is behind the political posturing and statements of the major participants make for interesting reading of the articles in their own right and form a worthwhile backdrop to the related articles that follow. Glen Morrow is an economist with the Cost Containment Section of the Illinois Insurance Department. In his article, he analyzes and classifies the myriad rating systems now extant in the United States before answering his own question, Regulatory Environments: Do They Matter?3 His conclusion is that both major kinds of rating sys- tems can be made to work, but tax dollars might well be spent else- where than in funding the costly apparatus required to enforce a sys- tem of prior approval rating. 1. Infra at 67. 2. Hon. Earl R. Pomeroy, Political Prospects for Changes in Insurance Regula- tion and Hon. Robert D. Haase, Federal Regulation Revisited, infra at 5 and 14, respec- tively. 3. Infra at 19.