NU Online News Service, March. 8, 1:15 p.m. EST
The role of the Federal Insurance Office is "the biggest wildcard in regulatory reform," and the agency "could very well end up having a significant effect on insurer operations and costs," according to a Deloitte report.
The report, "Insurance Industry Outlook: High Hurdles Loom in 2011 & Beyond," authored by Sam Friedman, insurance leader for Deloitte Research, notes that while the FIO does not have much regulatory authority on paper, it can strain insurer operations and raise compliance costs by demanding data from the industry to carry out its mandate to produce studies.
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