2011 1016 - Regulations.gov - FIO / DOT - Public Input on the Report to Congress on How To Modernize and Improve the System of Insurance Regulation in the United States
- 2011 1016 - Regulations.gov - FIO / DOT - Public Input on the Report to Congress on How To Modernize and Improve the System of Insurance Regulation in the United States, Posted by the Department of the Treasury on Oct 16, 2011 - [link]
- 2013 - DOT / FIO - How To Modernize And Improve The System Of Insurance Regulation In The United States - 71p
- Public Input
- 147 Comments
- NAIFA - 2011 1216 - On the domestic front, FIO has a dual focus – on both the federal government and the States. - regulations.gov/comment/TREAS-DO-2011-0010-0097
- NAIFA believes it is critical that FIO use its role as the insurance expert in the federal regulatory structure to
- (a) educate all levels of the federal government – from the Treasury Department, to the Securities and Exchange Commission (SEC), to the Department of Labor (DOL) – about the insurance industry, how it works, and how it interacts with other financial sectors;
- IIRPC - regulations.gov/comment/TREAS-DO-2011-0010-0070
- The Commission has an operational track record of adopting Uniform Standards that have generally raised the bar for product content requirements, specificity and consumer disclosures.
- The result is comprehensive content requirements that every product filed through the Commission must comply with (no desk drawer rules or exceptions) and that contain very strong protections for consumers.
- These protections range from a Flesch readability score requirement of 50 to only allowing voluntary (not mandatory) post-dispute arbitration to generally prohibiting no-assignment provisions.