FIO Could Be Advocate In Foreign Markets, Insurers Say

Law360, New York (May 17, 2012, 6:43 PM EDT) -- Insurance industry representatives told a subpanel of House lawmakers Thursday that the newly created Federal Insurance Office could take on a crucial advocacy role for insurers struggling to stay competitive in tightly regulated, trade-averse foreign markets.

The FIO, established by the Dodd-Frank Act to advise the Treasury Department on matters affecting the state-regulated insurance industry, should use its status as a federal office to reduce trade barriers like onerous capital requirements in China and Brazil, according to testimony before the Subcommittee on Insurance, Housing and Community...
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