H.R.5840 - Insurance Information Act of 2008110th Congress (2007-2008)
|Sponsor:||Rep. Kanjorski, Paul E. [D-PA-11] (Introduced 04/17/2008)|
|Committees:||House - Financial Services|
|Latest Action:||07/09/2008 Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote . (All Actions)|
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Subject — Policy Area:
- Finance and Financial Sector
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Summary: H.R.5840 — 110th Congress (2007-2008)All Bill Information (Except Text)
Introduced in House (04/17/2008)
Insurance Information Act of 2008 - Directs the Secretary of the Treasury to advise the President and Congress on domestic and international policy issues regarding all lines of insurance except health insurance.
Establishes within the Department of the Treasury the Office of Insurance Information, headed by a Deputy Assistant Secretary, to: (1) collect, analyze, and disseminate information and issue reports regarding all lines of insurance except health insurance; (2) establish federal policy on international insurance matters and ensure that state insurance laws are consistent with agreements between the United States and a foreign government or regulatory entity; and (3) advise the Secretary on major domestic and international insurance policy issues.
Extends the authority of the Office to all lines of insurance except health insurance.
Preempts inconsistent state law.
Requires the head of the Office to report to specified congressional committees on the financial state and meaningful trends of the insurance industry.
Establishes the Advisory Group to the Office of Insurance Information.