Federal insurance oversight is the wrong move, Connecticut regulator says

Post-crisis reforms take supervision to the wrong level

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Thomas Leonardi

When AIG came near to collapse at the height of the financial crisis, it was the US federal government that stepped in and lent the beleaguered insurer a total of $182 billion to keep it afloat. It perhaps seems only fair then that when the Dodd-Frank Act was passed in 2010, it mandated the creation of the Federal Insurance Office (FIO) to cast a federal eye over the state of insurance regulation in the US. The director of the new office was instructed to submit a report to Congress within 18