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12 J. Ins. Regul. 1 (1993-1994)

handle is hein.journals/jloins12 and id is 1 raw text is: Editor's Perspective Regulation is the theme of this issue. The articles address very current problems confronting regulators. They explain the history and appli- cation of state and National Association of Insurance Commissioners laws, rules, and policies. The authors offer a host of recommendations for improving regulation. The first piece Title Insurance: A Regulatory Perspective typifies the material the Journal will take pains to offer. Written by a respected regulator, it enlightens the reader about an obscure and often mis- understood line of insurance. I believe it will serve as a standard ref- erence. It should be required reading for any insurance examiner about to take on filings or examinations of title business. The dramatic title of the second article heralds the discussion of a controversial issue. Should life insurance policyholders be allowed to cash in their death benefits to meet terminal medical needs while they are alive? Regulatory constraints on policyholder choice have driven them into the hands of viatical settlement firms-an industry that has grown up to exploit the consumer's demand for immediate cash settlement. The trade literature has been describing the explosive growth of group self-insurance plans to meet workers' compensation coverage obligations. Workers' Compensation Group Self-Insurance Funds: Some Reform Proposals explains how these pools work and how they can be abused. It offers some fresh insights into both solvency regu- lation and controlling conflict of interest. Sometimes a regulation can have an unintended consequence. The authors of Controlling Insurance Risk and Consumer Costs: Asset Allocation Under Risk-Based Capital Requirements make a case that the current risk-based capital requirements actually increase the ris- kiness of insurance companies. They contend that the penalties put on certain kinds of assets without regard to their place in a balanced investment portfolio ignore modern investment theory and can be demonstrated to increase the volatility of an investment portfolio.