In this Paper, I studied to enunciate the insurance regulatory system of U.S.A., and to compare that of Korea. The debate over the modernization of the regulation of the insurance industry intensified over the past year, most notably a developing proposal in the U.S. House of Representatives to enact federal standards for the regulation of various aspects of the business of insurance. While major reform was not achieved, the stage seems to be set for important federal legislation within the next year that will mandate changes in the state-based regulatory system.