Michael McRaith

• Latest IAIS Paper Continues to Favor Subsidiary Structure for Companies

  By Elizabeth D. Festa, PropertyCasualty360.com  |  April 17, 2013

  The U.S. insurance industry says a subcommittee of the International Association of Insurance Supervisors continues to encourage countries to favor a subsidiary structure—a move the industry claims limits freedom of organization.

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  Congressman Presses McRaith, FIO on Key IAIS Initiatives

  By Elizabeth Festa, PropertyCasualty360.com  |  March 27, 2013

  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.

• TRIA Renewal an 'Uphill Climb,' Associations Warn

  By Arthur D. Postal, PropertyCasualty360.com  |  March 22, 2013

  The top staff official of the Property Casualty Insurers Association of America is warning the industry that reauthorization of the Terrorism Risk Insurance Act will be an “uphill climb” in this Congress.

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  Federal Insurance Office Regulatory Report Coming by July

  By Arthur D. Postal, PropertyCasualty360.com  |  March 13, 2013

  The Federal Insurance Office says it will release its long-awaited report on recommendations for modernizing and improving insurance regulation before July.

• House Financial Services Committee Tells FIO to Pick Up the Pace on Insurance Reports

  By Elizabeth Festa, PropertyCasualty360.com  |  February 15, 2013

  The House Financial Services Committee is urging the Federal Insurance Office to submit several “long overdue reports without further delay.”

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  Nelson Sticks to NAIC Script on Preservation of State System

  By Elizabeth Festa, PropertyCasualty360.com  |  January 23, 2013

  Ben Nelson echoed the sentiments of the National Association of Insurance Commissioners' leadership in his first public press conference as new CEO of the organization by casting the desired relationship with the federal government as one of a “partnership,” not one allowing incursion, pre-emption or even dual regulation.

• Industry Applauds Nelson Selection at NAIC

  By Arthur D. Postal and Elizabeth D. Festa  |  January 22, 2013

  Insurance interests in Washington are both publicly and privately ecstatic over the decision of the National Association of Insurance Commissioners to name former Nebraska Sen. Ben Nelson as its new chief executive officer.

• Industry Outlines Opposition to Global Risk Label

  By Elizabeth Festa, PropertyCasualty360.com  |  December 18, 2012

  Insurance groups and CEOs are bristling against the global designation of insurers as Global Systemically Important Insurers by the Financial Stability Board, an action expected in or near the first quarter of 2013.

• Certain Uncertainty

  By Louie Castoria, Fred Pomerantz  |  December 1, 2012

  NRRA gaps and inconsistent state laws leave surplus lines brokers in limbo.

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  President to Ask for NFIP Borrowing Increase

  By Arthur D. Postal, PropertyCasualty360.com  |  November 16, 2012

  The Obama administration will ask Congress to raise the National Flood Insurance Program’s borrowing authority to $25 billion, according to sources.

• NFIP Official: Program Likely to Need Congress to Authorize Loan for Sandy Claims

  By Arthur D. Postal, PropertyCasualty360.com, Elizabeth Festa, PropertyCasualty360.com  |  November 15, 2012

  The National Flood Insurance Program is likely to run out of money to pay Superstorm Sandy claims, meaning it will probably need Congress to authorize a loan, a FEMA official says.

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  Incoming and Outgoing: Washington Players Impacted by the Election

  By Arthur D. Postal, PropertyCasualty360.com  |  November 12, 2012

  Last Tuesday’s election will generate substantive changes in who makes the decisions affecting the insurance industry in Washington. Here is a look at the key people certain to be impacted by the change.

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  Sources Say Prudential Likely to Be Designated as Systemically Important

  By Arthur D. Postal, PropertyCasualty360.com  |  October 19, 2012

  Prudential Financial on Thursday advanced to the final stage of the government’s process for designation as a non-bank systemically important institution, according to several sources.

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  ComFrame Has 'Drifted Apart' as Consensus on Ambitious Framework Remains Elusive

  By Elizabeth Festa, PropertyCasualty360.com  |  October 11, 2012

  International regulatory and industry executive panelists discussing the International Association of Insurance Supervisors' ComFrame global-supervision approach diverged a great deal on key issues such as a timetable for implementation, what the framework will ultimately look like and who will supervise.

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  McRaith to Lead Influential IAIS Committee as Regulatory Discussions Heat Up

  By Elizabeth Festa, PropertyCasualty360.com  |  October 5, 2012

  Michael McRaith, director of the Federal Insurance Office in the Treasury Department, has been named to head the Technical Committee of the International Association of Insurance Supervisors, the group’s influential policy-developing body.

• FACI Meeting Addresses State Vs. Federal Concerns on International Standards

  By Elizabeth Festa, PropertyCasualty360.com  |  August 8, 2012

  At its second public meeting on Aug. 6, the Federal Advisory Committee on Insurance (FACI), a private-public consultancy branch of the Federal Insurance Office, signaled it was viewing U.S. insurance regulation through the wide-angle lens of internationalization, and also seeking input on shortcomings and the need for updating state insurance...