H.R.2609 - Insurance Information Act of 2009111th Congress (2009-2010)
Summary: H.R.2609 — 111th Congress (2009-2010)
Introduced in House (05/21/2009)
Insurance Information Act of 2009 - Includes among the duties of the Secretary of the Treasury serving as principal advisor to the President and Congress on domestic and international policy issues regarding all lines of insurance except health insurance.
Establishes within the Department of the Treasury the Office of Insurance Information, headed by a Director appointed by the Secretary.
Empowers the Office to: (1) collect, analyze, and disseminate data and information, and to issue reports, regarding such lines of insurance; (2) coordinate federal efforts and establish policy on international insurance matters; (3) determine whether state insurance measures are inconsistent with such policy; (4) serve as liaison between the federal government and the states regarding insurance matters; (5) advise the Treasury representative to the Trade Promotion Coordinating Committee regarding the export promotion of insurance products and services; and (6) advise the Secretary on domestic and international insurance policy issues.
Cites conditions that trigger preemption of state insurance measures.
Requires the United States or its representative to coordinate with state insurance regulators to identify provisions in any covered international agreement that provide for the recognition of prudential measures concerning the business of insurance.
Declares that this Act may not be construed to establish a general supervisory or regulatory authority of the Office or the Department over the business of insurance.
Establishes the Advisory Group to the Office of Insurance Information to make recommendations regarding the Office's international insurance policy functions and to consult regarding preemption of state insurance measures.