US House Republicans Grill FIO On Slow Progress

Law360, New York (February 4, 2014, 4:50 PM EST) -- The chairman of the U.S. House insurance subcommittee questioned the value of the Federal Insurance Office at a Tuesday hearing focused on the fledgling agency's report on modernizing insurance regulation.

FIO Director Michael McRaith fended off varied criticism from House members following the release of the agency's  highly anticipated report, which was nearly two years overdue. The report calls for a continuation of state-based insurance regulation with greater federal involvement in targeted areas.

Rep. Randy Neugebauer, R-Texas, the chairman of the U.S. House Financial Services Subcommittee...
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