Defined terms for the annuity market and lifetime income landscape.
Rehabilitation of insurance companies is the state regulatory process under which the domiciliary state's insurance commissioner takes control of a financially impaired carrier and attempts to restore it to solvency, as an alternative to liquidation.
State insurance regulation is the system under which each U.S. state — rather than the federal government — licenses insurance carriers, regulates the annuity and insurance products they sell, monitors their financial condition, and handles carriers in distress.
