House Committee Passes Federal Insurance Office Act

The U.S. House Financial Services Committee has passed a measure to create a scaled-back federal office that would be a national insurance information agency with some authority in the area of international insurance agreements.

The new federal office would not have any regulatory authority over the business of insurance and would not be able to override state insurance laws.

http://www.insurancejournal.com/news/national/2009/12/02/105683.htm