NU Online News Service, Jan. 12, 9:57 a.m. EST
NEW YORK – Michael T. McRaith, director of the Federal Insurance Office, said he is aware of anxiety that his office will be asking for duplicate data, bogging the insurance industry down in paperwork for what has been perceived as, potentially, an additional regulatory authority.
In front of some of the industry's most powerful chief executives and trade associations, McRaith reiterated that the FIO “is not a regulatory authority,” and concerns that the office will ask for duplicate data “are not well-founded.”
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