Federal insurance bodies defend role under Trump

Federal Insurance Office and Federal Reserve say work alongside state regulators critical for industry

Tom Sullivan at PricewaterhouseCoopers
Sullivan, Federal Reserve Board: regulators will need "elasticity" under new administration

The Federal Reserve, state supervisors and the Federal Insurance Office (FIO) are presenting a united front to the industry as the anti-regulation sentiment from US president elect Donald Trump puts their future roles in doubt.

The Fed and FIO argue their existence is vital to promoting American interests in the international insurance regulatory community.

Speaking of the relationship between the FIO, the Fed and the National Association of Insurance Commissioners (NAIC), Thomas Sullivan, the

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