Catastrophe insurance market recommendations made by RIMS

Insurance News on catastrophe insurance losses

A letter sent to the U.S. Treasury has made a number of natural cat coverage marketplace suggestions. The Risk Management Society (RIMS) has now issued a letter to the United States Treasury in order to share its recommendations regarding potential improvements to the way that the natural catastrophe insurance market operates throughout the country. The organization had been asked to submit this letter as an element of a study conducted by the FIO. The Federal Insurance Office (FIO), a part of the U.S. Department of the Treasury, is performing a…

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Insurance industry report finally delivered by the Federal Insurance Office

Insurance Industry

Federal Insurance Office released long-awaited insurance industry report The U.S. Department of the Treasury‘s Federal Insurance Office has released a highly anticipated report concerning the insurance industry. The report was initially scheduled for release in January of 2012, but this release was delayed in order for the Federal Insurance Office to take better account of emerging trends in the insurance industry and provide better insight on how the industry has evolved over a relatively short period of time. The agency is tasked with providing these types of reports on an…

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Federal Insurance Office anticipated report on modernizing insurance regulations delayed

The Federal Insurance Office was supposed to submit its much anticipated report on the modernization of insurance regulation to Congress in January, but the agency has missed that deadline. The U.S. Treasury Department, which oversees the Federal Insurance Office, claims that there must be more work done on the report before it can be released. This delay could mean that the report will not be released for week or months; news that insurers were not happy to hear. The report is meant to show Congress how the country’s insurance regulations…

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Federal Insurance Office report could have far reaching implications for state-based insurance regulations

The Federal Insurance Office (FIO) is scheduled to release a report at the end of the month that will have a dramatic impact on how insurance regulations are formed in the U.S. The agency, which is part of the Department of Treasury, has been working with insurers, consumer advocates and legal representative to determine how to modernize existing regulations. Insurers are eagerly anticipating the report as it may bring major changes to how the industry operates. The FIO expects that consumers may find favor with the report because it advises…

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Federal Insurance Office receives 150 comments on how to modernize the U.S. health insurance regulatory system

In October of last year, the Federal Insurance Office (FIO) issued a request for commentary on how to modernize health insurance regulations. The commentary period ended in December with the agency receiving more than 150 suggestions on what to do. Now, the FIO is using the comments it has received to help build a report regarding the regulatory system in the U.S. When completed, the report will be given to Congress and used to help plan a course of action for the future. Michael McRaith, director of the FIO, attended…

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