On October 17, 2011, the Federal Insurance Office (FIO) requested comments on its study on how to modernize and improve the system of insurance regulation in the United States. FIO is required to submit the study to Congress in January 2012. Click here for the notice published by FIO in the Federal Register.
FIO has requested comments on a dozen topics including:
- Systemic risk regulation with respect to insurance
- Capital standards and the relationship between capital allocation and liabilities, including standards relating to liquidity and duration risk
- Consumer protection
- Degree of national uniformity of insurance regulation
- Regulation of insurance companies and affiliates on a consolidated basis
- Costs and benefits of potential federal regulation across various lines of insurance
- Feasibility of federal regulation of only certain insurance lines
- Ability of federal regulation or regulators to eliminate regulatory arbitrage
- Potential consequences of subjecting insurers to federal resolution authority
Comments are due by December 11, 2011.