Law360, New York (May 17, 2012, 6:43 PM ET) -- 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...
FIO Could Be Advocate In Foreign Markets, Insurers Say
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