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FSOC Insurance Members Criticize Council's Approach to Insurance Issues

Roy Woodall, the independent insurance expert on the FSOC, spoke critically of the council's approach to its review of insurance companies as systemically risky, saying it does not provide the necessary direction, clarity or transparency to stakeholders.

By Elizabeth Festa | Updated on December 16, 2013

Roy Woodall, the independent insurance expert on the Financial Stability Oversight Council (FSOC), spoke critically of the FSOC’s approach to its review of insurance companies as systemically risky, saying it does not provide the necessary direction, clarity or transparency to stakeholders.  

Woodall, speaking before a National Association of Insurance Commissioners (NAIC) committee dealing with financial stability matters Sunday in Washington, said the FSOC missed an opportunity to identify any risky or unwanted activities that could have helped stability efforts of insurance regulators both domestically and internationally.

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