Wednesday, May 27, 2009
A bill that would create a federal Office of Insurance Information within the Treasury department has been reintroduced in the House by Rep. Paul Kanjorski, D-PA. The Insurance Information Act of 2009 (H.R. 2609) calls for the new office to collect and disseminate data and information relating to insurance, advise the Treasury secretary on major international and domestic policy issues and report to Congress every two years. An advisory group comprised of state regulators, consumer groups and others associated with the insurance industry, would also be established to help inform and advise the head of the office on the setting of U.S. policy in international insurance matters and in connection with determinations related to preemption. Check out I.I.I. information on regulatory modernization and optional federal charter.