Insurers are unlikely to be subject to federal oversight through the Dodd-Frank act, a Congressional staffer says, but it is unclear whether the act will lead to heightened state regulation.
Baird Webel, a specialist in financial economics at the Congressional Research Service, says the overall expectation is that few insurers will be deemed systemically important by the Financial Stability Oversight Council.
But he says the act mandates that states impose additional oversight of insurers because
of the financial crisis, namely problems at the non-insurance subsidiaries at American International Group.
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