“Title I and Title II of Dodd-Frank: The Camel’s Nose in the Insurance Regulatory Tent”
Title V of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act) has received widespread attention from commentators and the insurance industry due to its proposed creation of the Federal Insurance Office in the US. However, two other provisions of the Act – Title I, which among other things grants authority to the newly-created Financial Stability Oversight Council to designate certain non-bank financial companies for heightened prudential supervision, and Title II, which grants orderly liquidation authority to the Federal Deposit Insurance Company may also greatly affect insurers.
(This article appeared in International Insurance Law Review and is reprinted with the kind permission of Informa and Barlow Lyde & Gilbert LLP. The entire issue of International Insurance Law Review is available on Insurance Day’s website: www.insuranceday.com.)