IB 
Union Calendar No. 652 
114TH CONGRESS 
2D SESSION 
H. R. 5143 
[Report No. 114–831] 
To provide greater transparency and congressional oversight of international 
insurance standards setting processes, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 29, 2016 
Mr. LUETKEMEYER (for himself, Mr. HUIZENGA of Michigan, Mr. PEARCE, 
Mrs. WAGNER, Mr. BARR, Mr. ROTHFUS, and Mr. WESTMORELAND) in-
troduced the following bill; which was referred to the Committee on Fi-
nancial Services 
NOVEMBER 22, 2016 
Additional sponsors: Mr. LOUDERMILK, Mr. PITTENGER, Mr. SESSIONS, Mr. 
TIPTON, Mr. NEUGEBAUER, Mr. WILLIAMS, Mr. EMMER of Minnesota, 
Mr. LUCAS, Mr. ROSS, Mrs. LOVE, Mr. POSEY, Mr. STIVERS, Mr. 
MESSER, Mr. KING of New York, Mr. GUINTA, Mr. HULTGREN, Mr. 
DUFFY, Mr. GARRETT, Mr. HILL, Mr. SCHWEIKERT, Mr. HURT of Vir-
ginia, Mr. POLIQUIN, Mr. MCHENRY, Mr. FINCHER, Mr. LAHOOD, Mr. 
MULVANEY, Mr. LANCE, Mr. BABIN, Mr. RENACCI, Mr. CRAWFORD, Mr. 
MACARTHUR, Mr. HARRIS, and Mr. GROTHMAN 
NOVEMBER 22, 2016 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on April 29, 2016] 
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A BILL 
To provide greater transparency and congressional oversight 
of international insurance standards setting processes, 
and for other purposes. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Transparent Insurance 
Standards Act of 2016’’. 
SEC. 2. CONGRESSIONAL FINDINGS. 
The Congress finds the following: 
(1) The State-based system for insurance regula-
tion in the United States has served American con-
sumers well for more than 150 years and has fostered 
an open and competitive marketplace with a diversity 
of insurance products to the benefit of policyholders 
and consumers. 
(2) Protecting policyholders by regulating to en-
sure an insurer’s ability to pay claims has been the 
hallmark of the successful United States system and 
should be the paramount objective of domestic pruden-
tial regulation and emerging international standards. 
(3) United States officials participating in dis-
cussions or negotiations regarding international in-
surance standards shall support standards designed 
for the protection of policyholders. 
(4) The Secretary of the Treasury shall seek ad-
vice and recommendations from a diverse group of 
outside experts in performing the duties and authori-
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ties of the Secretary to coordinate Federal efforts and 
develop Federal policy on prudential aspects of inter-
national insurance matters. 
(5) The draft of the Higher Loss Absorbency cap-
ital standard adopted in 2015 by the International 
Association 
of 
Insurance 
Supervisors, 
notwith-
standing the concerns of U.S. parties to the Inter-
national Association of Insurance Supervisors, un-
equally affects insurance products offered in the 
United States, an issue that must be addressed. 
(6) Any international standard agreed to at the 
International Association of Insurance Supervisors is 
not self-executing in the United States for any insurer 
until implemented through the required Federal or 
State legislative or regulatory process. 
SEC. 3. OBJECTIVES FOR INTERNATIONAL INSURANCE 
STANDARDS. 
The objectives of the United States regarding inter-
national insurance standards are as follows: 
(1) To ensure standards that maintain strong 
protection of policy holders, as reflected in the United 
States solvency regime. 
(2) To ensure, pursuant to enactment of the In-
surance Capital Standards Clarification Act of 2014 
(Public Law 113–279), standards that are appro-
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