NU Online News Service, Oct. 25, 2:44 p.m. EDT
In his first public appearance since being named Federal Insurance Office director, Michael McRaith sought to alleviate concerns among those in the industry by saying the states would remain the functional regulators of insurance, and that FIO data requests would not be duplicative.
McRaith says the FIO will consult and work closely with the state-insurance departments, which remain the functional regulators, and will request information only if the information is not already available from public sources, a federal agency, or a state regulator.
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