The goal of the Working Group will be to build coalitions and promote policies that will strengthen the economy and promote jobs, according the House Majority Whip Roy Blunt, R-Mo., who helped organize the Working Group.

Rep. Tiberi said the Working Group would focus on insurance, banking and real estate.

"I hope we can work with industry leaders to identify problems and develop solutions," he said in a statement.

"We can also use this Working Group to improve communications between the House and Senate, so we can speak with a stronger, more unified voice on legislative and regulatory issues affecting the industry," he said.

Rep. Tiberi said he and Sen. Bunning would meet as soon as possible to develop the Working Group's initial agenda.

Anne Sittmann, a representative of the Des Plaines, Ill.-based National Association of Independent Insurers, praised the selection of Rep. Tiberi as co-chairman of the Working Group.

"Not only does he have superior knowledge and experience with financial services issues, but he is in tune with the insurance industry," Ms. Sittmann said. "Rep. Tiberi's strong relationship with our Ohio member companies is definitely a plus."