Thursday, December 12, 2013

Breaking News: Treasury's Federal Insurance Office Releases Long-Awaited Modernization Report

Insurance Journal Breaking News
December 12, 2013

Breaking News Alert

Treasury's Federal Insurance Office Releases Long-Awaited Modernization Report

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After nearly two years of waiting, the U.S. Department of the Treasury's Federal Insurance Office (FIO) today released its long-awaited report on how to modernize and improve the system of insurance regulation in the United States.

In its report, the FIO has concluded that in some circumstances, policy goals of uniformity, efficiency, and consumer protection make continued federal involvement necessary to improve insurance regulation. However, insurance regulation in the United States is best left to a hybrid model, where both state and federal regulatory bodies play complementary roles.

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