WINNERSLOSERSInsurance buyers8 of 19For the first time, a newly created Federal Insurance Office will monitor all insurance on a national level, except health insurance. While insurance will still be primarily regulated by the states, the office will identify and research problems encountered by U.S. insurance buyers, especially low- and moderate-income buyers.The financial reform act requires the new office to then share this information with state authorities and other federal agencies to improve overall government oversight of insurance companies.« Back to Financial Regulation. Related Articles:Fed's monetary policy toolboxHelp for mortgage borrowers?Financial meltdown: Credit cardsHow safe is your bank?Related Links:Types of banking institutionsSafe places for cashHow the economy affects youCommon mistakes in a bad economy advertisement
For the first time, a newly created Federal Insurance Office will monitor all insurance on a national level, except health insurance. While insurance will still be primarily regulated by the states, the office will identify and research problems encountered by U.S. insurance buyers, especially low- and moderate-income buyers.
The financial reform act requires the new office to then share this information with state authorities and other federal agencies to improve overall government oversight of insurance companies.
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