Legislation that would establish a federal Office of Insurance Information has won the qualified support of state insurance regulators, but state legislators raised a number of concerns at a Capitol Hill hearing last week.

At a hearing of the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, Illinois Insurance Director Michael McRaith said the legislation–introduced by Subcommittee Chair Paul Kanjorksi, D-Pa.–has won the “conditional support” of the National Association of Insurance Commissioners, provided that the powers granted to the proposed OII are not expanded any further.

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