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U.S. Senate Bill would Weaken Federal Insurance Office’s Authority

A bill titled the "Insurance Data Protection Act" (S. 3349) introduced in the U.S. Senate by Senator Katie Britt (R-AL) would restrict the Federal Insurance Office's (FIO) ability to collect information directly from insurance companies. It would also rescind the director of FIO's subpoena authority.

Housed in the U.S. Treasury Department, FIO was established through the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. ASA was one of the original and strongest advocates for including FIO's creation in the legislation.

Click here to read S. 3349.