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Royce Defends FIO, Questions NAIC's Credibility

Rep. Ed Royce (R-Calif.) makes the case for a strong FIO and downplays the role of the NAIC.

By Arthur D. Postal | Updated on June 17, 2013
Rep. Ed Royce (R-Calif.) (AP)

A strong Federal Insurance Office would create healthy competition at home and a level playing field for U.S. insurers abroad, Rep. Ed Royce (R-Calif.) said at a House Financial Services Committee hearing on June 13.

Royce, a senior member of the committee and chairman of the House Foreign Affairs Committee, made his comments in response to testimony by Ben Nelson, CEO of the National Association of Insurance Commissioners, at the hearing.

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