http://www.washingtonwatch.com/bills info@washingtonwatch.com http://www.pjdoland.com/chai/?v=0.1 http://www.washingtonwatch.com/bills/history/110_HR_3200.html?rev=16724 <p>H.R. 3200 would authorize the issuance of Federal charters and licenses for carrying on the sale, solicitation, negotiation, and underwriting of insurance or any other insurance operations, to provide a comprehensive system for the Federal regulation and supervision of national insurers and national agencies, to provide for policyholder protections in the event of an insolvency or the impairment of a national insurer.</p> <h2 id="toc0"> Detailed Summary </h2> <p>National Insurance Act of 2007 - Establishes in the Department of the Treasury an Office of National Insurance (ONI), headed by a Commissioner of National Insurance, with Divisions of Insurance Fraud and of Consumer Affairs, and an Office of the Ombudsman.</p> <p>Authorizes the Commissioner to supervise, regulate, and provide for registration of insurance self-regulatory organizations.</p> <p>Requires the Commissioner to supervise national insurers and national agencies, including chartering and licensing. Removes them, as well as federally licensed insurance producers, from state oversight of insurance business practices.</p> <p>Authorizes the Commissioner to provide for the organization, operation, and regulation of National Insurance Companies and National Insurance Agencies, including U.S. branches of non-U.S. Insurers.</p> <p>Requires national insurers to obtain a federal license.</p> <p>Provides for conversion of state insurers to national insurers or state insurance agencies to national agencies, and vice versa.</p> <p>Prescribes requirements for national life insurer product regulation, including mandatory election for either national or state participating policy procedures governing a national life insurer in mutual form.</p> <p>Sets forth requirements governing prompt corrective action.</p> <p>Authorizes the Commissioner to: (1) license insurers that are not national insurers to provide reinsurance; and (2) issue federal insurance producer licenses.</p> <p>Restricts specified state actions.</p> <p>Provides for: (1) mergers, consolidations, and acquisitions of national insurers and national agencies; and (2) conversion of stock life insurers to national life insurer in mutual form, and vice versa.</p> <p>Subjects national insurers and national agencies to state taxation.</p> <p>Prohibits states from preventing or restricting national insurers from engaging in specified insurance business practices.</p> <p>Requires registration with the Commissioner of national insurers that belong to an insurance holding company system.</p> <p>Authorizes the Commissioner to appoint the ONI as receiver for a national insurer for rehabilitation or liquidation.</p> <p>Requires national insurers to join guaranty associations in each state, which may levy assessments on them for purposes of insolvency protection.</p> <p>Establishes a National Insurance Guaranty Corporation to provide benefits to policyholders of a national life insurer under federal receivership.</p> <p>Sets forth requirements governing claims covered for policy holders of national property/casualty insurers.</p> <p>Applies federal antitrust laws to national insurers, national agencies, and federally licensed insurance producers.</p> <p>Exempts national insurers, national agencies, and federally licensed insurance producers from state regulation, except as expressly provided in this Act.</p> <p>Directs the Comptroller General to analyze and report to Congress on the overall competitiveness of the insurance sector in the United States.</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc1"> Status of the Legislation </h2> <p>Latest Major Action: 7/26/2007: Referred to House committee. Status: Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, 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.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc2"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc3"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 16724@http://www.washingtonwatch.com Fri, 11 Jan 2008 18:29:54 EST http://www.washingtonwatch.com/bills/history/110_HR_3200.html?rev=5975 <p>H.R. 3200 would authorize the issuance of Federal charters and licenses for carrying on the sale, solicitation, negotiation, and underwriting of insurance or any other insurance operations, to provide a comprehensive system for the Federal regulation and supervision of national insurers and national agencies, to provide for policyholder protections in the event of an insolvency or the impairment of a national insurer.</p> <h2 id="toc4"> Detailed Summary </h2> <p>(Log in to edit the wiki and be the first to provide a detailed summary of the bill!)</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc5"> Status of the Legislation </h2> <p>(Log in to edit the wiki and be the first to update the status of the bill!)</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc6"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc7"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 5975@http://www.washingtonwatch.com Fri, 27 Jul 2007 17:43:26 EDT http://www.washingtonwatch.com/bills/history/110_HR_3200.html?rev=5976 <p>H.R. 3200 would authorize the issuance of Federal charters and licenses for carrying on the sale, solicitation, negotiation, and underwriting of insurance or any other insurance operations, to provide a comprehensive system for the Federal regulation and supervision of national insurers and national agencies, to provide for policyholder protections in the event of an insolvency or the impairment of a national insurer.</p> <h2 id="toc8"> Detailed Summary </h2> <p>(Log in to edit the wiki and be the first to provide a detailed summary of the bill!)</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc9"> Status of the Legislation </h2> <p>Latest Major Action: 7/26/2007: Referred to House committee. Status: Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, 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.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc10"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc11"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 5976@http://www.washingtonwatch.com Fri, 27 Jul 2007 17:43:26 EDT