The Federal Insurance Office (FIO) has missed its deadline to release its widely-anticipated report to Congress on how to improve and modernize insurance regulation in the U.S.  The report, which was due in January 2012, is mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act and is expected to provide insight into how the FIO plans to use its authority.  Specifically, this report could be instrumental in setting the agenda for possible federal regulation of insurance.

When recently asked for an update on when the report will be released, a Treasury Department spokesperson stated that the FIO is “hard at work preparing FIO’s first report on how to improve and modernize the system of insurance regulation in the U.S., and expect[s] to send the report to Congress in the coming weeks.”