Insurance Group Responds to Dodd-Frank Act
The National Association of Mutual Insurance Companies (NAMIC) issued this press release in response to the Dodd-Frank Act. As we noted here, Dodd-Frank establishes a new agency, the Federal Insurance Office (FIO). According to NAMIC, “the FIO will play an important role in helping guide federal policy and trade negotiations with regard to property/casualty insurance, . . . however, we must remain vigilant to ensure that it is not allowed to expand beyond its intent. The FIO was designed to, and should, work in concert with the state regulatory system, not duplicate it.”
Contact Steve Quinlivan for more information.