The Insured Retirement Institute Friday responded to the Federal Insurance Office’s request for comment on how to modernize insurance regulation in the U.S., saying that the nation’s insurance regulatory system needs to be modernized — and insurance products, most notably annuities and other insured retirement income products, need to be made available to underserved populations.
IRI encouraged the FIO to help Americans better prepare for retirement and insure against the risk of outliving their assets.
