Letter to incoming Trump Administration Department of Government Efficiency say FIO duplicates functions already performed by the states. A coalition of Insurance Commissioners from Alabama, Arkansas, Kansas, Louisiana, New Hampshire, North Carolina, Oklahoma, Tennessee, and West Virginia have issued a joint letter to the newly appointed leaders of the Trump Administration’s Department of Government Efficiency […]
U.S. House Financial Services Committee Advances Bill to Limit Federal Insurance Office Ability to Subpeona Insurers Directly
On April 17, the U.S. House Financial Services Committee, led by Chairman Patrick McHenry (NC-10), reported 13 pieces of legislation out of Committee to the full House for consideration. Included among the measures is a slate of Congressional Review Act (CRA) resolutions to nullify what it says are a series of regulatory oversteps on the […]
Legislation Introduced to Eliminate Federal Insurance Office’s Subpoena Authority
U.S. Senator Katie Britt (R-Ala.), a member of the Senate Committee on Banking, Housing, and Urban Affairs, on November 28 led 16 of her Senate colleagues in introducing the Insurance Data Protection Act. The bill would eliminate the FIO Director’s subpoena authority. According to Britt, the legislation would correct the Federal Insurance Office’s (FIO) recent […]
Insurance Associations Applaud Legislation to Eliminate Federal Insurance Office Subpoena Power
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 […]
Insurance Associations Defend Auto Insurer Pricing Factors
Following calls by consumer groups for the U.S. Treasury Department’s Federal Insurance Office (FIO) to update its 2017 auto insurance affordability study, two insurance groups commented on the proposals. David Snyder, vice president of the American Property Casualty Insurance Association’s Policy, Research and International Division (APCIA) said, “We support the Department of Treasury’s Federal Insurance […]
Consumer Organizations Call on Federal Insurance Office to Update Auto Insurance Affordability Study
In a comment letter sent to the agency on Monday, July 26, Consumer organizations urged the Department of Treasury’s Federal Insurance Office (FIO) to update a 2017 study on the affordability of auto insurance in historically underserved communities and to conduct a deep and thorough investigation of unfair discrimination in auto insurance markets. While state […]
ASA Urges Collision Repair Center Operators to Oppose Legislation Threatening Federal Insurance Office
Legislation introduced in both U.S. House and Senate would abolish office association believes serves interest of consumers and collision repair facilities. The Automotive Service Association (ASA) reports that bills to abolish the Federal Insurance Office have been introduced in the U.S. House of Representatives and the U.S. Senate. The association opposes both bills and is […]
Groups Say State Insurance Regulators Fail Consumers on Auto Insurance Affordability Research
Consumer groups want Federal Insurance Office to step in saying National Association of Insurance Commissioners report biased towards insurance industry. Insurance industry association calls consumer groups’ comments unfortunate. Consumer groups have called on state insurance regulators to reject a proposed report on auto insurance affordability that the groups said is biased toward industry and fundamentally […]
ASA Asks Congress to Protect Federal Insurance Office’s Authority
The U.S. House of Representatives Committee on Financial Services passed a series of six bills designed to reduce federal regulations. The Automotive Service Association (ASA) reports that one of the bills, HR 3861, Federal Insurance Office Reform Act of 2017, introduced last year was part of the package approved by a vote of 36-21. ASA […]
Federal Insurance Office Survives Dodd-Frank Reform
ASA acknowledges U.S. Senate Banking Committee for saving FIO. The Automotive Service Association (ASA) made the establishment of the Federal Insurance Office (FIO) its top priority during Congress’ consideration of the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010. Despite significant opposition, FIO did become part of the Dodd-Frank Reform law. According to […]