I 
111TH CONGRESS 
1ST SESSION H. R. 2609 
To establish an Office of Insurance Information in the Department of the 
Treasury. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 21, 2009 
Mr. KANJORSKI (for himself, Mrs. BIGGERT, Mr. MOORE of Kansas, Mr. 
CAPUANO, Ms. BEAN, Mr. ROYCE, and Mr. SCOTT of Georgia) introduced 
the following bill; which was referred to the Committee on Financial Serv-
ices 
A BILL 
To establish an Office of Insurance Information in the 
Department of the Treasury. 
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 ‘‘Insurance Information 
Act of 2009’’. 
SEC. 2. OFFICE OF INSURANCE INFORMATION. 
(a) DUTIES OF SECRETARY.—Section 321(a) of title 
31, United States Code, is amended— 
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(1) in paragraph (7), by striking ‘‘and’’ at the 
end; 
(2) in paragraph (8)(C), by striking the period 
at the end and inserting ‘‘; and’’; and 
(3) by adding at the end the following new 
paragraph: 
‘‘(9) serve as the principal advisor to the Presi-
dent and the Congress on domestic and international 
policy issues in connection with all lines of insurance 
except health insurance.’’. 
(b) ESTABLISHMENT OF OFFICE.—Subchapter I of 
chapter 3 of title 31, United States Code, is amended— 
(1) by transferring and inserting section 312 
after section 313; 
(2) by redesignating sections 313 and 312 (as 
so transferred) as sections 312 and 314, respec-
tively; and 
(3) by inserting after section 312 (as so redes-
ignated) the following new section: 
‘‘SEC. 313. OFFICE OF INSURANCE INFORMATION. 
‘‘(a) ESTABLISHMENT.—There is established within 
the Department of the Treasury the Office of Insurance 
Information. 
‘‘(b) LEADERSHIP.—The Office shall be headed by a 
Director, who shall be appointed by the Secretary of the 
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Treasury. The position of such Director shall be a career 
reserved position in the Senior Executive Service. 
‘‘(c) FUNCTIONS.— 
‘‘(1) AUTHORITY PURSUANT TO DIRECTION OF 
SECRETARY.—The Office shall have the authority, 
pursuant to the direction of the Secretary, as fol-
lows: 
‘‘(A) To receive and collect (directly from 
the States and from other sources), and to ana-
lyze and disseminate, data and information, and 
to issue reports, regarding all lines of insurance 
except health insurance, except that— 
‘‘(i) the submission of any non-pub-
licly available data and information to the 
Office shall be voluntary and such submis-
sion shall not constitute a waiver of, or 
otherwise affect, any privilege or confiden-
tiality protection to which the data or in-
formation is otherwise subject; 
‘‘(ii) to the extent that any such data 
and information has already been received 
or collected by, or can efficiently be re-
ceived or collected by, the States (including 
the 
insurance 
commissioners 
of 
the 
States), the National Association of Insur-
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ance Commissioners, or any other appro-
priate source, the Office may enter into an 
information-sharing agreement with such 
source to provide for the receipt of such 
data by the Office; 
‘‘(iii) any requirement under Federal 
or State law to the extent otherwise appli-
cable, or any requirement pursuant to a 
written agreement in effect between the 
original source of any non-publicly avail-
able data or information and the source of 
such data or information to the Office, re-
garding the privacy or confidentiality of 
any data or information in the possession 
of the source to the Office, and any privi-
lege arising under Federal or State law 
(including the rules of any Federal or 
State court) with respect to such data or 
information, shall continue to apply to 
such data or information after the data or 
information has been provided pursuant to 
this subparagraph to the Office; 
‘‘(iv) the Office shall treat as con-
fidential and privileged any data or infor-
mation obtained from any source that is 
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entitled to confidential treatment under ap-
plicable State or Federal law or regula-
tions, or under any agreement to which the 
source is a party and shall take all reason-
able steps to oppose any effort to secure 
disclosure of the data or information by 
the Office; 
‘‘(v) the Office may not in any case 
disclose to any party any personally identi-
fiable information received or collected by 
the Office pursuant to this subparagraph; 
and 
‘‘(vi) any non-publicly available data 
and information received or collected by 
the Office pursuant to this subparagraph 
shall be considered trade secrets and com-
mercial or financial information that is 
privileged and confidential pursuant to sec-
tion 552(b)(4) of title 5, United States 
Code, and may not be disclosed to the Ad-
visory Group established under subsection 
(l). 
‘‘(B) To coordinate Federal efforts and es-
tablish Federal policy on international insur-
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ance matters, including working with the Inter-
national Association of Insurance Supervisors. 
‘‘(C) To determine, in accordance with 
subsection (e), whether State insurance meas-
ures are inconsistent with such policy, as in-
cluded in covered agreements (as such term is 
defined in subsection (m)). 
‘‘(D) To serve as a liaison between the 
Federal Government and the individual and sev-
eral States regarding insurance matters of na-
tional importance and international importance. 
‘‘(E) To serve as a primary advisor, re-
garding the export promotion of United States 
insurance products and services, to the Treas-
ury representative to the Trade Promotion Co-
ordinating Committee. 
‘‘(2) ADVISORY
FUNCTIONS.—To advise the 
Secretary on major domestic and international in-
surance policy issues, including matters that affect 
consumers and insurers, such as, and including, fi-
nancial guarantee insurance, catastrophe insurance, 
and reinsurance requirements. 
‘‘(d) SCOPE.—The authority of the Office and the Di-
rector with respect to insurance shall extend to all lines 
of insurance except health insurance, as determined by the 
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Secretary based on section 2791 of the Public Health 
Service Act (42 U.S.C. 300gg–91). 
‘‘(e) PREEMPTION
OF STATE INSURANCE MEAS-
URES.— 
‘‘(1) STANDARD.—Subject to paragraph (3), a 
State insurance measure shall be preempted if, and 
only to the extent that, the measure— 
‘‘(A) treats a non-United States insurer 
more or less favorably than a United States in-
surer domiciled in such State; and 
‘‘(B) is determined, in accordance with this 
subsection, to be inconsistent with Federal pol-
icy on international insurance matters as— 
‘‘(i) established by the Office; and 
‘‘(ii) included in a covered agreement. 
‘‘(2) DETERMINATION.— 
‘‘(A) AUTHORITY
OF
DIRECTOR.—Pursu-
ant to the subsection (c)(1)(C), the Director 
may determine whether inconsistencies referred 
to in paragraph (1)(B) of this subsection exist. 
‘‘(B) NOTICE OF POTENTIAL INCONSIST-
ENCY.—Before making any determination re-
garding whether an inconsistency referred to in 
paragraph (1)(B) exists, the Director shall— 
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‘‘(i) cause to be published in the Fed-
eral Register notice of the issue regarding 
the potential inconsistency or preemption, 
including a description of each State insur-
ance measure at issue and the Federal pol-
icy on international insurance matters em-
bodied in a covered agreement at issue; 
‘‘(ii) provide interested parties a pe-
riod of not less than 30 days during which 
to submit written comments to the Office; 
and 
‘‘(iii) in making the determination, 
consider any comments received. 
‘‘(C) 
INITIAL
DETERMINATION.—Upon 
making any determination regarding whether 
an inconsistency referred to in paragraph 
(1)(B) exists, the Director shall— 
‘‘(i) cause to be published in the Fed-
eral Register notice of such determination; 
‘‘(ii) notify the appropriate State of 
such determination; and 
‘‘(iii) in the case of determination that 
such an inconsistency exists, establish a 
reasonable period of time before a final de-
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termination under subparagraph (D) is 
made. 
‘‘(D) FINAL DETERMINATION.—In the case 
of an initial determination that an inconsistency 
referred to in paragraph (1)(B) exists, upon the 
conclusion of the period referred to in subpara-
graph (C)(iii) of this paragraph with respect to 
such determination, the Director shall make a 
final determination of whether such inconsist-
ency still exists. If the Director determines that 
such inconsistency still exists, the Director shall 
cause to be published in the Federal Register 
notice of such final determination and notify 
the State and the Secretary of such final deter-
mination. 
‘‘(E) CONSIDERATION
OF
STAY
BY
SEC-
RETARY; EFFECTIVE DATE OF PREEMPTION.— 
In the case of a final determination under sub-
paragraph (D) that an inconsistency referred to 
in paragraph (1)(B) exists, the Secretary, after 
consultation with the Director, shall determine 
whether to stay preemption under paragraph 
(3). Immediately upon such determination, the 
Secretary shall cause to be published in the 
Federal Register notice of whether the State in-
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surance measure is preempted pursuant to 
paragraph (1), to the extent of the inconsist-
ency, or whether preemption is stayed pursuant 
to paragraph (3), and shall submit to the Con-
gress a copy of such notice. Any such preemp-
tion shall be effective upon the expiration of the 
90-day period beginning upon the publication of 
notice under this subparagraph unless the Con-
gress by its action prevents such effectiveness. 
‘‘(3) STAY.—Notwithstanding any determina-
tion by the Director that an inconsistency referred 
to in paragraph (1)(B) exists, the Secretary shall 
stay preemption under this subsection, before publi-
cation of notice of preemption under paragraph 
(2)(E), if the Secretary determines that— 
‘‘(A) maintaining the State insurance 
measure is necessary for prudential reasons, in-
cluding for— 
‘‘(i) the protection of policyholders 
and policy claimants; 
‘‘(ii) the maintenance of the safety, 
soundness, integrity or financial responsi-
bility of any entity involved in the business 
of insurance or insurance operations; or 
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‘‘(iii) ensuring the integrity and sta-
bility of the United States financial sys-
tem; 
‘‘(B) preemption will result in any need to 
establish a supervisory or regulatory authority 
of the Office or the Secretary over any entity 
involved in the business of insurance or insur-
ance operations in the United States; or 
‘‘(C) preemption will result in a gap or 
void in financial or market conduct regulation 
of any entity involved in the business of insur-
ance or insurance operations in the United 
States. 
‘‘(4) ADMINISTRATIVE
REVIEW.—Any State 
having an insurance measure for which a final deter-
mination is made pursuant to paragraph (2)(D) that 
an inconsistency referred to in paragraph (1)(B) ex-
ists, and any other person aggrieved by such final 
determination, shall have the right to appeal such 
final determination of inconsistency to the Secretary, 
but only if the Secretary receives notice of such ap-
peal before publication of notice of preemption under 
paragraph (2)(E). The Secretary shall issue a deci-
sion concerning any such appeal before considering 
whether to stay preemption under paragraph (3). 
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‘‘(5) APPLICABILITY OF ADMINISTRATIVE PRO-
CEDURES
ACT.—Determinations of inconsistency 
pursuant to paragraph (2)(D) and of preemption 
pursuant to paragraph (2)(E) shall be subject to the 
applicable provisions of subchapter II of chapter 5 of 
title 5, United States Code (relating to administra-
tive procedure), and chapter 7 of such title (relating 
to judicial review). 
‘‘(6) LIMITATION.—No State may enforce a 
State insurance measure to the extent that it has 
been preempted pursuant to this subsection. 
‘‘(7) POLICIES
AND
PROCEDURES.—The Sec-
retary may, by publication in the Federal Register, 
issue policies and procedures to implement this sub-
section and subsection (c)(1)(C). 
‘‘(f) SAVINGS PROVISIONS.—Nothing in this section 
shall— 
‘‘(1) preempt any State insurance measure be-
cause of inconsistency with any agreement that is 
not a covered agreement (as such term in defined in 
subsection (m)); 
‘‘(2) preempt any State insurance measure that 
relates to an insurer’s rates, premiums, underwriting 
practices, or coverage requirements for insurance 
within that State, or to the application of the anti-
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trust laws of any State to the business of insurance; 
or 
‘‘(3) affect the preemption of any State insur-
ance measure otherwise inconsistent with and pre-
empted by Federal law. 
‘‘(g) CONSULTATION.— 
‘‘(1) DIRECTOR.—The Director shall consult 
with the Advisory Group established under sub-
section (l) regarding— 
‘‘(A) any agreement described in sub-
section (e)(1)(B), before such agreement is en-
tered into; and 
‘‘(B) any initial or final determination 
under subsection (e)(2) of whether an inconsist-
ency referred to in subsection (e)(1)(B) exists. 
‘‘(2) SECRETARY.—The Secretary shall consult 
with the Advisory Group established under sub-
section (l) regarding whether or not to stay preemp-
tion under subsection (e)(3). 
‘‘(h) COORDINATION REGARDING COVERED AGREE-
MENTS.—Before entering into any covered agreement, the 
United States or its representative shall coordinate with 
State insurance regulators as designated by the National 
Association of Insurance Commissioners to identify provi-
sions in the covered agreement that provide for the rec-
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ognition of prudential measures with respect to the busi-
ness of insurance that are described in subsection 
(m)(1)(B). 
‘‘(i) REPORTS TO CONGRESS.— 
‘‘(1) BIENNIAL
REPORTS.—The Director, in 
consultation with the insurance commissioners or su-
pervisors of the States, shall submit a report during 
each Congress to the Committee on Financial Serv-
ices of the House of Representatives and the Com-
mittee on Banking, Housing, and Urban Affairs of 
the Senate on the financial state of the insurance in-
dustry, meaningful trends in the industry, any ac-
tions taken by the Office pursuant to subsection (e) 
(regarding preemption of inconsistent State insur-
ance measures), and any other information as 
deemed relevant by the Director or as requested by 
such Committees. 
‘‘(2) REPORTS
ON
STATE
INSURANCE
MEAS-
URES NOT PREEMPTED.—The Director shall submit 
a report to each of the Committees referred to in 
paragraph (1) of this subsection regarding any State 
insurance measure that would have been preempted 
but for any stay of preemption under subsection 
(e)(3). 
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‘‘(3) OTHER REPORTS.—The Director shall sub-
mit such other informal reports as the Director con-
siders necessary or as are requested by the Con-
gress. 
‘‘(j) USE
OF EXISTING RESOURCES.—The Office 
may employ personnel, facilities, and other Department of 
the Treasury resources available to the Secretary on the 
date of enactment of the Insurance Information Act of 
2009 in carrying out this section, except as otherwise pro-
hibited by law. 
‘‘(k) RETENTION OF EXISTING REGULATORY AU-
THORITY.—Nothing in this section may be construed to 
establish a general supervisory or regulatory authority of 
the Office or the Department of the Treasury over the 
business of insurance. 
‘‘(l) ADVISORY GROUP.— 
‘‘(1) ESTABLISHMENT.—There is hereby estab-
lished the Advisory Group to the Office of Insurance 
Information (in this subsection referred to as the 
‘Advisory Group’). 
‘‘(2) MEMBERSHIP.—The Advisory Group shall 
consist of no more than 13 members who shall be 
appointed by the Secretary, and shall include— 
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‘‘(A) State insurance commissioners or su-
pervisors, as nominated by the National Asso-
ciation of Insurance Commissioners; 
‘‘(B) a representative each of— 
‘‘(i) State legislators, as nominated by 
the National Conference of State Legisla-
tures; 
‘‘(ii) the Department of Commerce; 
‘‘(iii) the Federal Trade Commission; 
‘‘(iv) the Office of the United States 
Trade Representative; 
‘‘(v) the life insurance industry; 
‘‘(vi) the property and casualty insur-
ance industry; 
‘‘(vii) the reinsurance industry; and 
‘‘(viii) the insurance producer indus-
try; and 
‘‘(C) such other representatives of the in-
surance industry, consumer groups, and other 
organizations as the Secretary determines are 
appropriate. 
‘‘(3) DUTIES.—The sole functions of the Advi-
sory Group shall be to make recommendations to the 
Secretary and the Director regarding the function of 
the Office under subsection (c)(1)(B) and to consult 
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with the Director and the Secretary pursuant to 
subsection (g). 
‘‘(m) DEFINITIONS.—For purposes of this section, 
the following definitions shall apply: 
‘‘(1) COVERED
AGREEMENT.—The term ‘cov-
ered agreement’ means a written bilateral or multi-
lateral recognition agreement that— 
‘‘(A) is entered into— 
‘‘(i) between the United States and 
one or more foreign governments, authori-
ties, or regulatory entities; and 
‘‘(ii) after the date of the enactment 
of the Insurance Information Act of 2009; 
and 
‘‘(B) provides for recognition of prudential 
measures with respect to the business of insur-
ance that— 
‘‘(i) adequately protect insurance con-
sumers in the United States; and 
‘‘(ii) are substantially equivalent to 
the regulation by the States of the com-
parable subject matter. 
‘‘(2) NON-UNITED STATES INSURER.—The term 
‘non-United States insurer’ means an insurer, or re-
insurer, that is organized under the laws of a juris-
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‘‘(n) SAVINGS PROVISION.—Nothing in this section 
shall be construed to affect the development and coordina-
tion of United States international trade policy or the ad-
ministration of the United States trade agreements pro-
gram. 
‘‘(o) AUTHORIZATION OF APPROPRIATIONS.—There 
are authorized to be appropriated for the Office such sums 
as may be necessary for each fiscal year.’’. 
(c) INDEPENDENCE IN CONGRESSIONAL TESTIMONY 
AND RECOMMENDATIONS.—Section 111 of Public Law 
93–495 (12 U.S.C. 250) is amended by inserting ‘‘the Di-
rector of the Office of Insurance Information of the De-
partment of the Treasury,’’ after ‘‘Office of Thrift Super-
vision,’’. 
(d) CLERICAL AMENDMENT.—The table of sections 
for subchapter I of chapter 3 of title 31, United States 
Code, is amended by striking the item relating to section 
312 and inserting the following new items: 
‘‘Sec. 312. Terrorism and Financial Intelligence. 
‘‘Sec. 313. Office of Insurance Information. 
‘‘Sec. 314. Continuing in office.’’. 
SEC. 3. TREATMENT OF CERTAIN PROVISIONS. 
(a) NON-SEVERABILITY OF CERTAIN PROVISIONS .— 
If any provision of subsection (e) or (h) of section 313 
of title 31, United States Code, as added by this Act, is 
declared or held invalid or unenforceable by any United 
States court, all provisions of each such subsection shall 
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be treated and deemed invalid and shall have no force or 
effect of law. 
(b) 
SEVERABILITY
OF
REMAINDER.—Notwith-
standing the invalidation of subsections (e) and (h) of sec-
tion 313 of title 31, United States Code, as added by this 
Act, under subsection (a) of this section, the validity of 
the remainder of such section 313, and of the application 
of such provisions to other persons and circumstances, 
shall not be affected thereby. 
Æ 
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