Cooperation among gov’t insurance agencies questioned
June 18, 2013 by Elizabeth D. Festa
Members of the Subcommittee of Housing and Insurance of the House Financial Services Committee peppered leading insurance governmental representatives, NAIC CEO Ben Nelson, the Federal Insurance Office Director Michael McRaith, and the insurance expert on the U.S Financial Stability Oversight Council (FSOC) Roy Woodall, on the deep concerns the direction of international regulatory standards are taking during a hearing Thursday.
The subcommittee expressed concern about how the three agencies are working together and if any lack of collaboration is an obstacle in representing U.S. interests abroad.
“This will be the first of many hearings examining the international competitiveness of the U.S. insurance industry,” stated Subcommittee Chairman Randy Neugebauer, R-Texas. Click here to read…
