IV 

113TH CONGRESS 

2D SESSION H. RES. 735 

Expressing the sense of the House of Representatives that recently proposed 

measures that will reduce transparency and public participation at the 

International Association of Insurance Supervisors (IAIS) should be disapproved by United States representatives to the IAIS. 

IN THE HOUSE OF REPRESENTATIVES 

SEPTEMBER 18, 2014 

Mr. HUIZENGA of Michigan (for himself and Mr. MEEKS) submitted the 

following resolution; which was referred to the Committee on Foreign Affairs 

RESOLUTION 

Expressing the sense of the House of Representatives that 

recently proposed measures that will reduce transparency 

and public participation at the International Association 

of Insurance Supervisors (IAIS) should be disapproved 

by United States representatives to the IAIS. 

Whereas the International Association of Insurance Supervisors (IAIS) establishes global insurance standards that 

the United States and other countries are expected to implement and are graded on their compliance with; 

Whereas heretofore, the procedures of the IAIS were relatively transparent for observers; 

Whereas, on August 4, 2014, the IAIS proposed eliminating 

public observers from its meetings starting on January 1, 


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•HRES 735 IH 

2015, significantly reducing the transparency of its activities and only allowing certain parties to attend; 

Whereas representatives of United States consumer advocacy 

organizations have just recently been admitted as observers; 

Whereas the IAIS proposed procedures would provide far less 

transparency and participation than the procedure afforded to interested stakeholders in the United States by 

the National Association of Insurance Commissioners 

(NAIC); 

Whereas maximum transparency produces the best regulation 

and the proposed procedures will reduce transparency; 

and 

Whereas United States State insurance regulators who currently provide the largest portion of funding to the IAIS 

have already publically expressed opposition to the proposed reduction in IAIS transparency: Now, therefore, be 

it 

1 Resolved, That it is the sense of the House of Rep2 resentatives that— 

3 (1) the International Association of Insurance 

4 Supervisors’ (IAIS) proposed procedures will reduce 

5 transparency and access to IAIS supervisory stand6 ard development by United States stakeholders in7 cluding those representing consumers; 

8 (2) the proposed procedures specifically author9 ize the unfair and unequal treatment of interested 


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•HRES 735 IH 

1 parties by allowing the IAIS to selectively admit cer2 tain parties and exclude others at key meetings; 

3 (3) all representatives of the United States at 

4 the International Association of Insurance Super5 visors should oppose these new procedures and in6 stead advocate more transparency and public inclu7 sion by the IAIS; 

8 (4) should the IAIS adopt the proposed proce9 dures or any similar reductions in transparency, 

10 United States representatives to the IAIS should 

11 make all appropriate efforts to ensure that proper 

12 transparency is restored; and 

13 (5) all United States representatives to the 

14 IAIS should work to ensure that their activities are 

15 transparent to Congress and United States stake16 holders, and that United States representatives to 

17 the IAIS should regularly communicate with United 

18 States stakeholders through timely comprehensive 

19 reporting and in-person discussions. 

Æ 


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