The Obama administration is again postponing release of a report outlining proposals for modernizing insurance regulation that was scheduled to be released last January.
Disclosure of the delay was contained in comments Federal Insurance Office director Michael McRaith is scheduled to make before a House Services Committee panel Thursday and as it released its annual report on the industry.
“We urge that our state regulators and the FIO coordinate closely and cooperate continuously to promote efficient and effective supervision, with due regard to limitations under current U.S. state and federal laws,” said Kimberly Olson Dorgan, ACLI senior vice president, public policy.
“We believe that both FIO and our state regulators must work together to assure that U.S. competitive interests are represented on par with those of our global competitors, FIO from within the U.S. government and our state regulators as participants in supervisory colleges” Dorgan said. “We support their collective efforts, as we believe close coordination and continuous cooperation on that point, both at home and abroad, is essential.”