Editor's note: Arthur D. Postal writes a weekly column for PC360 on insurance-related developments in Washington. Prevoiusly, he was National Underwriter's Washington Bureau chief. Opinions expressed are the author's own.
Property and casualty industry officials gave unanimous support last week for the concept of the Federal Insurance Office, although they acknowledged the devil is in the details and said they remain comfortable with the current state-based regulatory system.
At a hearing on the FIO convened by the Housing and Insurance Subcommittee of the House Financial Services Committee, Rep. Michael Capuano, D-Mass., ranking minority member of the subcommittee, asked,
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