Two opponents of federal regulation say they support creation of a national Office of Insurance Information–but only through the legislative process, not via unilateral action by the Treasury Department.
The two groups sounding off in an e-mail to all members of the House and Senate last week were the National Association of Mutual Insurance Companies and COFIR–the Coalition Organized for the Future of Insurance Regulation.
The OII concept was formally proposed last June in H.R. 5840–the Insurance Information Act of 2008–by Rep. Paul Kanjorski, D-Pa., who chairs the Capital Markets Subcommittee of the House Financial Services Committee. The bill failed to win congressional approval after being brought up on the House floor in September.
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