House Votes To Create Federal Insurance Office

Law360, New York (December 11, 2009, 5:18 PM EST) -- The U.S. House of Representatives voted Friday to approve a bill creating a new federal insurance office to collect information and build expertise on the industry, as well as new rules clarifying regulatory jurisdiction during interstate surplus lines and reinsurance transactions.

A provision establishing a Federal Insurance Office, sponsored by Rep. Paul Kanjorski, D-Pa., passed the House by a vote of 223-202 as part of H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009, a broad financial regulatory reform bill strengthening oversight and...
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