Electronic commerce presents consumers with choices never before imagined. But in the world of insurance, despite an expanding array of coverage options, few consumers are able to take full advantage of the ability to compare and contrast terms, conditions and costs, because most insurers don’t make copies of their policies available prior to purchase.

Consumer advocate Daniel Schwarcz, an associate professor at the University of Minnesota Law School, has been pushing for states and the NAIC to require insurers to publish their policies on-line. Fresh off his Nov. 16 appearance before the House Financial Services Committee’s insurance subcommittee, Schwarcz spoke to C-FIRE Deputy Director R.J. Lehmann about his efforts, the potential for action by the NAIC’s Consumer Disclosure Working Group and why he feels transparency is necessary for markets to function properly.

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