US state and federal insurance regulators are squaring up

US state regulators are worried the Federal Insurance Office is exceeding its remit

michael-faulkner

Tensions are building between US state regulators and the Federal Insurance Office (FIO), the body established by the Dodd-Frank Act to monitor the insurance industry and represent the US on prudential insurance matters. Since the FIO was founded in 2010, the National Association of Insurance Commissioners (NAIC), the US standard-setting body, has been keeping watch for any ‘mission creep’ beyond the FIO’s clearly delineated responsibilities under Dodd-Frank. Concerns are em