In this week’s edition of the FIRE Podcast, I provide an update on some of the key insurance and regulatory issues on the table these days here in Washington, D.C. Among the topics covered:
- Health insurance isn’t the only insurance market where former Massachusetts Gov. Mitt Romney has a troubling history of support for massive government intervention. Back in 2007 and 2008, while he was attempting to curry favor among Florida voters and the endorsement of then-Gov. Charlie Crist, Romney also had kind things to say about Crist’s “beach house bailout” plan for a federal catastrophe insurance backstop.
- AIG CEO Robert Benmosche’s recent claims that U.S. taxpayers will turn a $5 billion to $10 billion profit on the $182 billion bailout of his company should be viewed through a skeptical lens.
- The Federal Insurance Office’s report on ways to improve U.S. insurance regulation is now two months late. Does that delay offer hints that FIO Director Michael McRaith is planning to call for a major overhaul and federal regulation of the industry?