Congressman Presses McRaith, FIO on Key IAIS Initiatives

Congress is taking one of its first steps toward oversight of Federal Insurance Office activities by questioning the FIO's stance on key international insurance regulatory proposals.

By Elizabeth Festa | Updated on March 27, 2013

Congress is taking one of its first steps toward oversight of Federal Insurance Office (FIO) activities by questioning the FIO’s stance on key international insurance regulatory proposals.

Chairman of the House Financial Services Subcommittee on Housing and Insurance, Rep. Randy Neugebauer, told FIO Director Michael McRaith that current international standard-setting proposals could impose unnecessary costs on insurance consumers and hurt the competitive U.S. marketplace.

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