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Duffy Insurance Bill Latest in Growing
Scrutiny of International Insurance Talks

April 30, 2015, 4:00 AM

Rep. Sean Duffy (R-Wis.) said he will introduce a bill that would grant Congress greater oversight of federal regulators participating in negotiations over future international insurance standards.

Duffy’s announcement April 29 came during the second hearing in as many days that brought before lawmakers representatives from the Federal Reserve Board, the Treasury Department’s Federal Insurance Office (FIO) and the National Association of Insurance Commissioners (NAIC) on the question of international insurance regulation. The hearing witnesses serve as the U.S. representatives to the International Association of Insurance Supervisors (IAIS) as it develops capital rules and other standards for globally active insurance ...