OFC Proposal Hearing Scheduled for Next Week
A House subcommittee hearing is scheduled for next week to review a proposal to create a federal insurance information agency. Congressman Paul E. Kanjorski, who is chairman of Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, announced that the hearing on his Insurance Information Act of 2008 (H.R. 5840,) legislation will take place on Tuesday, June 10.
The legislation proposed by Kanjorski would establish 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. The legislation was introduced in April by Kanjorski along with four other members of the House Financial Services Committee introduced H.R. 5840 in April.
"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 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," he said.
Published on June 5, 2008
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