Steve Dreyer, who took the helm of the Federal Insurance Office (FIO) in June, is stepping down effective Friday.

The FIO, which was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act, is an information gathering body housed within the Department of Treasury. In addition to information gathering, FIO supports the U.S. Trade Representative in the negotiation of certain international insurance agreements and represents the federal government at the International Association of Insurance Supervisors (IAIS). FIO also assists in administering the Terrorism Risk Insurance Program and conducts studies and reports on the insurance market.

FIO has proven over the years to have questionable value for insurance markets and consumers, and the Big “I” supports significantly restricting or eliminating the FIO.

Dreyer is the second FIO director. Michael McRaith, who became the first FIO director in 2011, left on the last day of the Obama administration. Steven Seitz, FIO deputy director will become acting director with Dreyer’s departure until a permanent replacement is named.

Jennifer Webb is Big “I” federal government affairs counsel.