I 
114TH CONGRESS 
2D SESSION 
H. R. 6436 
To require that any international insurance standards agreed to by parties 
representing the United States reflect existing United States laws, regula-
tions, and policies on regulation of insurance, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
DECEMBER 5, 2016 
Mr. HECK of Washington (for himself, Mr. SHERMAN, and Ms. KUSTER) in-
troduced the following bill; which was referred to the Committee on Fi-
nancial Services 
A BILL 
To require that any international insurance standards agreed 
to by parties representing the United States reflect exist-
ing United States laws, regulations, and policies on regu-
lation of insurance, and for other purposes. 
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 ‘‘U.S. Insurance Regu-
lation Works Act of 2016’’. 
SEC. 2. CONGRESSIONAL FINDINGS. 
The Congress finds the following: 
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(1) The State-based system for insurance regu-
lation in the United States has served American con-
sumers well for more than 150 years. 
(2) Protecting policyholders by guaranteeing an 
insurer’s ability to pay claims has been the hallmark 
of the successful U.S. system and should be the 
paramount objective of domestic prudential regula-
tion and emerging international standards. 
(3) The Dodd-Frank Wall Street Reform and 
Consumer Protection Act (Public Law 111–203) re-
affirmed the State-based insurance regulatory sys-
tem, while giving the Board of Governors of the 
Federal Reserve System authority to regulate certain 
non-bank entities on a consolidated basis, including 
insurers that have been designated systemically im-
portant financial institutions or that include an in-
sured depository institution and are regulated by the 
States at the insurance entity level. 
SEC. 3. REQUIREMENT THAT INTERNATIONAL INSURANCE 
STANDARDS REFLECT UNITED STATES POL-
ICY. 
Before assenting to any international insurance regu-
latory proposal, including proposals developed by the 
International Association of Insurance Supervisors, par-
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ties representing the Federal Government shall ensure 
that— 
(1) the proposal is consistent with and reflective 
of existing Federal and State laws, regulations, and 
policies on regulation of insurance, including the pri-
macy of policyholder protection in solvency regula-
tion; and 
(2) existing Federal and State laws, regula-
tions, and policies on the regulation of insurance 
would be recognized as satisfying such proposals. 
SEC. 4. STATE INSURANCE REGULATOR INVOLVEMENT IN 
INTERNATIONAL STANDARD SETTING. 
Parties representing the Federal Government in any 
international regulatory, standard-setting, or supervisory 
forum or in any negotiations of any international agree-
ments relating to insurance shall, on matters related to 
insurance, consult with and seek to include in such meet-
ings, State insurance commissioners or their designees. 
Æ 
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