Don't Underestimate The Power Of FIO

Law360, New York (May 10, 2013, 12:04 PM EDT) -- Title V of the Dodd Frank Wall Street Reform and Consumer Protection Act includes the creation of the Federal Insurance Office (FIO). Headed by former Illinois Insurance Commissioner Michael McRaith, the FIO is located in the U.S. Department of Treasury. In the two years since passage of Dodd-Frank, the FIO has begun hiring staff and working on an examination of the regulation of insurance.

A reasonable question for observers of the insurance industry is: Does the FIO matter? Its stated authority in Title V is very...
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