FIO Modernization Report Sets Sweeping Agenda

Law360, New York (December 13, 2013, 4:58 PM EST) -- While Thursday's report from the Federal Insurance Office has grabbed headlines for what it has to say about federal involvement in insurance regulation, the long-awaited study also includes some specific recommendations that will be influential, including calls for closer scrutiny of reinsurance captives, federal standards on mortgage insurance and more consistent solvency standards.

The report, required under the Dodd-Frank Act, outlines the FIO's vision for modernizing U.S. insurance regulation. Overall, it urges a hybrid state-federal model for supervising insurers, with the federal government stepping in where...
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