A House Financial Services Subcommittee approved three bills yesterday aimed at improving the insurance regulatory system and increasing the availability of coverage through risk retention groups.
Members of the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises approved the measures by a voice vote. Those passed included the Insurance Information Act, or HR 5840; the National Association of Registered Agents and Brokers Reform Act, also known as HR 5611; and the Increasing Insurance Coverage Options for Consumers Act, or HR 5792.
The OII bill was introduced by the subcommittee's chairman, Rep. Paul Kanjorski, D-Penn., who noted that it “promoted an idea that I have long held, that the federal government should have an in-house expert on insurance issues.”
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