While the Dodd-Frank Act largely exempted insurers from any new regulations, it did bequeath one monumental change to the industry - the establishment of the Federal Insurance Office (FIO).
With insurer for the first time answering to a federal regulator, the creation and future of the FIO was the subject of debate at a forum held during the Annual Meeting of the Casualty Actuarial Society. “We are sailing into uncharted waters,” said Steve Broadie, VP – financial policy, Property Casualty Insurers Association of America (PCI).
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