Conferees finalize authority of Federal Insurance Office

06/23/2010 | Business Insurance (tiered subscription model)

The House-Senate conference panel working on the financial-services-reform bill approved provisions that would give the proposed Federal Insurance Office less extensive pre-emptive authority, compared with the regulatory powers sought for a similar office under the Senate version of the bill. The conferees also agreed to require the proposed office to report on insurance and reinsurance issues to Congress, as well as inform lawmakers of any moves to pre-empt state regulations.

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