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Michael T. McRaith, director of the Federal Insurance Office (Photo by Don Pollard)

Lawmakers and industry and government officials pushed for supervisory harmony and a robust role abroad by the U.S. Federal Insurance Office (FIO) to increase international competitiveness for the U.S. insurance industry.

In a May 17 hearing before the Insurance, Housing and Community Opportunity Subcommittee of the House Financial Services Committee, chaired by Rep. Judy Biggert, R-Ill., insurers, regulators and consumer advocates were united in emphasizing a need to work together to create clarity and consistency so insurers can expand their markets abroad.

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