Federal Insurance Office reports to be released in summer: McRaith

Long-delayed reports from the Federal Insurance Office will be issued by summer, according to the head of FIO.

Speaking during a meeting of the Federal Advisory Committee on Insurance in Washington on Wednesday, FIO Director Michael McRaith noted that several reports mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act have yet to be released.

One of the reports, which was supposed to be issued more than a year ago, will deal with insurance regulatory modernization; another, due last fall, will examine the reinsurance market.

“We expect these reports will be out before July,” said Mr. McRaith.

The office appears likely to come under increased congressional scrutiny in coming months. The House Financial Services Committee’s oversight plan, for example, calls on the office “to submit these long-overdue reports without further delay.”