Insure.com - Who regulates life settlements and viaticals?

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Laws regarding life settlement and viatical transactions vary from state to state. While many states have adopted the National Association of Insurance Commissioners’ model law for viaticals, regulations for life settlements remain spotty.

The chart below shows which department is responsible for regulating these transactions. Where life settlements are not mentioned, such as New York, they are not regulated. Some states may encompass life settlements in their viatical laws, which may not be reflected in the chart.

State	Who has jurisdiction?
Alabama	Viaticals: Insurance department and securities regulator
Alaska	Viaticals: Insurance department and securities regulator
Arizona	Viaticals and life settlements: Securities regulator
Arkansas	Viaticals: Insurance department
California	Viaticals: Insurance department and securities regulator
Colorado	Viaticals: Insurance department regulates transaction between insured and provider; securities department regulates transaction between providers and investors.
Connecticut	Viaticals: Insurance department
Delaware	Viaticals: Insurance department
Florida	Viaticals: Insurance department
Georgia	Viaticals and life settlements: Insurance department regulates transaction between insured and provider; securities department regulates transaction between providers and investors.
Hawaii	Viaticals and life settlements: Insurance department
Idaho	Viaticals and life settements: Securities director
Illinois	Viaticals: Insurance department
Indiana	Viaticals: Insurance department
Iowa	Viaticals and life settlements: Insurance department
Kansas	Viaticals: Insurance department
Kentucky	Viaticals: Insurance department
Louisiana	Viaticals: Insurance department
Maine	Viaticals and life settlements: Insurance department
Maryland	Viaticals: Insurance department
Massachusetts	Viaticals: Insurance department
Michigan	Viaticals: Insurance department
Minnesota	Viaticals: Commerce Commissioner
Mississippi	Viaticals: Insurance department
Missouri	Unregulated
Montana	Viaticals and life settlements: Insurance department
Nebraska	Viaticals: Insurance department
Nevada	Viaticals: Insurance department
New Hampshire	Unregulated
New Jersey	Viaticals: Insurance department
New Mexico	Viaticals: Insurance department
New York	Viaticals: Insurance department
North Carolina	Viaticals: Insurance department and securities department
North Dakota	Viaticals: Insurance department
Ohio	Viaticals: Insurance department and securities department
Oklahoma	Viaticals and life settlements: Insurance department
Oregon	Viaticals and life settlements: Department of Consumer and Business Services (which includes insurance department)
Pennsylvania	Viaticals: Insurance department
Rhode Island	Unregulated
South Carolina	Securities regulator
South Dakota	Viaticals: Securities regulator
Tennessee	Viaticals and life settlements: Department of insurance and commerce
Texas	Viaticals and life settlements: Insurance department
Utah	Viaticals: Insurance department
Vermont	Viaticals: Commissioner of banking, insurance and securities
Virginia	Viaticals: Insurance department
Washington	Viaticals: Insurance department
Washington, D.C.	Unregulated
West Virginia	Viaticals: Office of Insurance Commissioner
Wisconsin	Viaticals: Insurance department
Wyoming	Unregulated
Source: Life Insurance Settlement Association & state sources