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September 15, 2008 at 08:37 AM
The leaders of the National Conference of Insurance Legislators are continuing to fight an Office of Insurance Information bill that may be nearing the House floor.
A preliminary House calendar released Friday shows the OII bill, H.R. 5840, the Insurance Information Act of 2008, could come to the House floor Tuesday or Wednesday.
The OII bill would create an insurance information office within the U.S. Treasury Department.
The leaders of NCOIL, Troy, N.Y., sent copies of a letter opposing the OII bill Friday to House Speaker Nancy Pelosi, D-Calif., and to every other House member.
Enacting the OII bill “will lead to a dangerous optional federal charter for insurance regulation…that will unravel the strong consumer protections embedded in state-based insurance regulation,” NCOIL leaders write in the letter.
