Federal regulators showed they are paying attention at the state level even as state regulators want to be heard on the international level.
Eighteen state insurance commissioners—the executive layer of the membership of the National Association of Insurance Commissioners (NAIC)—plus its CEO, former Sen. Ben Nelson, met with Treasury Secretary Jacob Lew this morning with the goal of working together to modernize the system of insurance regulation and getting the states' voice heard internationally.
Lew stressed the role of Treasury's Federal Insurance Office (FIO) in carrying out what he termed a hybrid model for insurance regulation.
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Elizabeth Festa
Elizabeth Festa is a longtime business and financial services reporter with a specialty in insurance regulatory and legislative coverage at the federal and state level. She is based in Washington, D.C.
