House Committee OKs New Federal Insurance Office

Law360, New York (December 2, 2009, 4:08 PM EST) -- Legislators have thrown their support behind the creation of a Federal Insurance Office that would have some authority to negotiate international insurance agreements and make recommendations regarding industry regulations.

In an unanimous vote Wednesday, members of the U.S. House of Representatives' Financial Services Committee voted in favor of H.R. 2609, the Federal Insurance Office Act, which would set up the Federal Insurance Office in the U.S. Department of Treasury.

The concept of a Federal Insurance Office was part of President Obama's proposal for regulatory reform in...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.