US state regulators oppose Federal Insurance Office proposals

Capitol Hill in Washington DC

The first showdown between state insurance regulators and the Federal Insurance Office (FIO) following the publication of the FIO's report on modernising the US's system of insurance regulation revealed strong state opposition to several of its policy proposals.

On February 4, Connecticut insurance commissioner Tom Leonardi and FIO director Michael McRaith testified on the findings of the report before the House of Representatives financial services subcommittee on housing and insurance in Washi

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