The NAIC’s 2025 federal priorities include:
• Preserving and Respecting States’ Primary Role as Insurance Regulators by Eliminating the Federal Insurance Office (FIO)
https://content.naic.org/article/naic-announces-2025-federal-legislative-and-regulatory-priorities
I would make a derisive comment about the NAIC wanting to party like it’s 1989, but I honestly don’t know whether (setting aside current political events) this is a good or bad idea.
From my silo… I knew FIO existed, but they hadn’t yet seemed relevant to anything I do/care about. Maybe that’s a naïve view?
They do stuff with terrorism, and ask for data. That’s been my personal experience. From a pure carrier perspective, it would be less work if they didn’t exist. Whether that work is meaningful I’m not the best to have an opinion.
The sole power the FIO has is the power to make a report.
That’s it.