Nearly 2 Years Late, FIO Releases Modernization Report

Law360, New York (December 12, 2013, 3:54 PM EST) -- The Federal Insurance Office on Thursday set out its vision for modernizing insurance regulation in the U.S., calling for a hybrid state-federal regulatory regime in a highly-anticipated report that is just shy of two years late.

Leading up to the release of the influential FIO report, state regulators and many insurance groups consistently argued that insurance regulation should remain largely in states' hands.

But the FIO report, which the Dodd-Frank Act required to be out by January 2012, does end up calling for a measured federal...
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