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Former S&P Analyst In Line to Head FIO

Former Standard & Poor's analyst Steve Dreyer could be named as the next director of the U.S. Treasury's Federal Insurance Office (FIO), succeeding Michael McRaith, according to a report in Politico.
Former S&P Analyst In Line to Head FIO
June 12, 2018

Former Standard & Poor's analyst Steve Dreyer could be named as the next director of the U.S. Treasury's Federal Insurance Office (FIO), succeeding Michael McRaith, according to a report in Politico. In an interview, he said he would be willing to promote the state-based system of regulating insurers. “I come at it from a financial analyst standpoint. As a financial analyst you have to understand how an insurance company works from top to bottom,” said Dreyer.

After meeting with stakeholders, he said many feel the FIO should be a central resource for insurance expertise in the government and make sure it is on the same page as state officials who act as the U.S. industry’s primary regulators. Treasury last year said it should promote the state-based regulatory system and advocate for the U.S. insurance sector in international negotiations.

Dreyer said there were other things FIO can do that the states might not have the appetite or time for on a national level, such as drawing attention to ways insurance products can address societal problems like flooding and earthquakes. He also indicated that infrastructure is an area in which there could be opportunities for expanded insurance industry investment.

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