The National Association of Mutual Insurance Companies (NAMIC) and National Association of Professional Insurance Agents (PIA) welcomed the introduction this week of the Insurance Data Protection Act in the U.S. House of Representatives they say will protect insurers and the state-based system of insurance from federal overreach by the Federal Insurance Office (FIO).
The bill would repeal the FIO Director’s subpoena and enforcement powers.
Led by Rep. Scott Fitzgerald, R-Wis., with two original co-sponsors, the bill would remove the Federal Insurance Office’s subpoena authority. FIO was created under the Dodd-Frank Act to monitor insurance markets and provide information to federal
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