Insurance Data Protection Act
- Last Action
- 5/15/2025
Actions
- 2025-05-15Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2025-05-15Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2025-05-15Introduced in House
- 2025-05-15Introduced in House
CRS Summary
As of 2025-05-15 (00)
Insurance Data Protection Act
This bill limits the ability of federal entities to compel insurance companies to share information.
Specifically, the bill eliminates the subpoena power of the Federal Insurance Office. Under current law, the office has the power to subpoena information from insurers to, among other purposes, identify issues that could contribute to a systemic crisis in the insurance industry or the U.S. financial system.
The bill also eliminates the ability of the Office of Financial Research to subpoena insurance companies.
When seeking to collect insurance company data under specified consumer protection laws, a financial regulator must obtain the data from other regulators or from publicly available sources if possible. Otherwise, the financial regulator may only collect this data directly from the insurance company if the regulator complies with the Paperwork Reduction Act.
Cosponsors (20)
- Mike Flood (R-NE)
- Daniel Meuser (R-PA)
- Monica De La Cruz (R-TX)
- William Timmons (R-SC)
- Andrew Garbarino (R-NY)
- Andrew Ogles (R-TN)
- Tim Moore (R-NC)
- Byron Donalds (R-FL)
- Bill Huizenga (R-MI)
- Roger Williams (R-TX)
- Ralph Norman (R-SC)
- Zachary Nunn (R-IA)
- Barry Loudermilk (R-GA)
- Glenn Grothman (R-WI)
- Harriet Hageman (R-WY)
- John Moolenaar (R-MI)
- Brandon Gill (R-TX)
- Michael Lawler (R-NY)
- Andy Barr (R-KY)
- Pete Stauber (R-MN)
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.