HARTFORD, Conn. (AP) — Connecticut’s insurance commissioner is scheduled to testify before a congressional subcommittee on state-based insurance regulation.
Thomas B. Leonardi was expected to appear Tuesday before the U.S. House Subcommittee on Housing and Insurance in Washington, D.C. He will discuss a recent report by the Federal Insurance Office about modernizing and improving the system of insurance regulation across the country.
Insurance is primarily regulated at the state level, with insurance laws enacted by legislatures and governors and implemented by state regulators. The FIO report concludes that policy-makers should review whether there are areas in which federal involvement under the state-based system is warranted.
The FOI is a division of the U.S. Treasury, created by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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