Auto insurance affordability taken on by FIO

auto insurance premiums FIO

The shiny new Federal Insurance Office is taking its first steps toward vehicle coverage. The Federal Insurance Office (FIO), which has only just recently been created, has now set its sights on the auto insurance sector and it has now announced that it will be taking on the issues of both availability and affordability. The FIO is going to be focusing specifically on the way that a specific group of consumers is being served. According to the announcement from the FIO, it will be starting a study that will look…

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Federal regulators seek public commentary on insurance regulations

The Federal Insurance Office is nearing the end of a lengthy study of current and pending insurance regulations. The study, which was spawned from last year’s Dodd-Frank financial reform bill, will come to an end in January of 2012, at which time federal regulators will release the findings to the public. The results of the study has the insurance industry on the edge of its seat as the study may determine the fate of future regulations that could requires insurers to make vast changes to their business strategies and practices.…

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Insurance agents oppose Federal Insurance Office study

Members of The National Association of Professional Insurance Agents (PIA) are unsettled about a federal insurance study. They feel that the study is biased and will not produce accurate results. If the law is based on these inaccuracies, they feel this could be devastating to the insurance industry. Currently, the Federal Insurance Office (FIO) has been called upon to report the potential risks and benefits of federal regulation in the insurance industry. The current authority over insurance belongs to each individual state, preventing the FIO from regulating the insurance industry. PIA…

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