Obama Victory A Blow To Insurers Fearing Federal Oversight

Law360, New York (November 6, 2012, 12:00 AM EST) -- With President Barack Obama clinching another four years in the White House on Tuesday, the insurance industry can expect even more vigorous federal oversight, driven by a strengthened Federal Insurance Office and an emboldened Consumer Financial Protection Bureau, experts say.

While a President Mitt Romney might have backed off from stepping on the toes of state insurance regulators, Obama is more likely to hand greater power to the fledgling FIO and the CFPB, both established by the Dodd-Frank Act in the wake of the financial crisis....
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