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The insurance industry has changed over the past decade. Risks and insurance solutions have become larger, more numerous and more complex. This adds to the complexity of the insurance business and, ultimately, insurance rates reflect this complexity. An insurer must maintain a current, in-depth understanding of the regulatory and legal environments in which it operates. This complexity is compounded when an insurer operates globally and must also navigate the varied regulatory and legal issues in countries worldwide. Fifty regulators with fifty different sets of rules create significant bureaucracy for the insurance industry and a challenge for national insurers that must keep up to date on the legal and regulatory issues governing each state in which they operate.