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In the News Press Release

GOP Call to End SIFIS Raises Question of Who Will Mind the Store

Publisher: Business Insurance
June 13, 2016

Bill Goddard was quoted in an article, "GOP Call to End SIFIS Raises Question of Who Will Mind the Store," in Business Insurance. Goddard commented on how the chairman of the House Financial Services Committee's call to strip the Financial Stability Oversight Council of the ability to designate insurers and others as systemically important financial institutions leaves unanswered the question of how very large insurance groups should be regulated. "Maybe it says we won't regulate certain large insurers as systemically important, but how will we regulate?" Goddard asked. "We have to have some way to look at the entire enterprise, entities that might not have the thorough oversight of state insurance regulation," said Goddard, adding that insurers are "well regulated" by the states.