2 Ways Insurance Regulation Will Change Under Biden Admin.
Law360 (February 16, 2021, 6:23 PM EST) -- In addition to dramatically changing the policies of former President Donald Trump on the pandemic, the economy, immigration and other key issues, President Joe Biden's administration is likely to substantially increase the federal government's oversight of the insurance industry in at least two ways.
The first way is by regulating nonbank companies that own insurers, and the second way is through the U.S. Department of Housing and Urban Development, scrutinizing homeowners insurers for discriminatory underwriting, rating and claims practices.
The Federal Reserve may again supervise nonbank companies that own insurers.
The Financial Stability Oversight Council, under the leadership of U.S. Secretary...
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