U.S. House Panel to Hear Federal Insurance Information Office Proposal on June 10

The U.S. House Financial Services Committee Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises has scheduled a Hearing to examine HR 5840, also known as the “Insurance Information Act of 2008.” The bill would create a federal Office of Insurance Information within the Department of the Treasury to provide advice and expertise on insurance policy to the Administration and to Congress.

Hearing details are as follows:

Date: Tuesday, June 10, 2008

Time: 10:00 a.m.

Place: Room 2128 of the Rayburn House Office Building, Washington D.C.

A witness list and prepared testimony will be posted here when complete.

A statement from Subcommittee Chairman Congressman Paul E. Kanjorski (D-PA) regarding the Hearing is below.

Should you have any questions or comments, please do not hesitate to contact Colodny Fass.

Capital Markets Subcommittee Examines Legislation to Create a Federal Insurance Adviser

Washington, DC – Congressman Paul E. Kanjorski (D-PA), Chairman of the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, announced that the Subcommittee will hold a hearing on H.R. 5840, the Insurance Information Act of 2008, on Tuesday, June 10, 2008 at 10 a.m.

The Subcommittee will hear from a variety of parties involved in the insurance industry as they discuss their thoughts on the legislation. H.R. 5840 would create a federal Office of Insurance Information within the Department of the Treasury to provide advice and expertise on insurance policy to the Administration and to Congress. Chairman Kanjorski and four other Members of the House Financial Services Committee introduced H.R. 5840 on April 17, 2008.

“The creation of an Office of Insurance Information would provide an effective way to help Congress and the federal government make more informed decisions regarding national and international insurance policy,” said Congressman Kanjorski. “Congress continues to vote regularly on insurance matters. In order to create the most effective and sensible legislation, we, as lawmakers, must educate ourselves on insurance policy and build a knowledge base in the federal government on these issues. An Office of Insurance Information would help initiate such sought after results.”