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The National Association of Professional Insurance Agents (PIA) is disappointed that the FIO, in its narrative regarding the 2007-2009 financial crisis, does not appear to take into account the report issued by the Government Accountability Office (GAO) on June 27, 2013. The FIO report sails by the GAO’s conclusion that the state insurance regulatory system worked well to help mitigate the negative effects of the crisis on the insurance industry. A truly objective report would have referenced the GAO study’s conclusions.

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