On June 12th, the Treasury Department's Federal Insurance Office ("FIO") released its first Annual Report on the Insurance Industry, as required by the Dodd-Frank Act. The Report addresses the financial performance and condition of the principal sectors within the industry and reviews recent insurer insolvencies, risk management, and portfolio investment activities. In addition, the Report discusses legal and regulatory developments affecting the insurance industry in the United States and abroad and discusses current and emerging trends that may have a significant impact on the industry and financial system stability. Treasury Department Press Release. See also The D&O Diary.