Insurance Implications Of Dodd-Frank

Law360, New York (September 23, 2010, 5:36 PM EDT) -- While the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010[1] falls short of establishing federal regulation of the insurance industry, the act does lay the foundation for future steps in that direction in a number of ways.

Importantly, the act establishes the Federal Insurance Office (FIO), the first federal entity tasked solely with the oversight of insurers, though, for now, with powers largely limited to information gathering.

The Dodd-Frank Act also allows for Federal Reserve regulation of systemically significant insurers and preempts state laws...
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