Insurance Data Protection Act
Insurance: Limits on Federal Data Collection
The Insurance Data Protection Act is currently in the early stages of the legislative process. It has been sent to the House Financial Services and Agriculture committees for review. No further actions are scheduled at this time, but the bill remains active.
Legislative Progress
This bill has strong support from one party but lacks the bipartisan backing needed to pass a divided Congress. It also faces pushback from federal agencies that want to keep their data powers.
Key Points
- This bill stops the Federal Insurance Office and other financial regulators from forcing insurance companies to hand over their data directly. Federal agencies would have to check with state insurance offices or public records first to see if the information is already available.
- The plan takes away the power of the Federal Insurance Office to issue legal orders to get information from these companies. This moves more control back to state governments, which have traditionally been the main ones in charge of overseeing insurance.
- If a federal agency still needs data that is not available anywhere else, they must follow strict federal rules before asking a company for it. The bill also ensures that any private information shared between government offices stays protected by privacy laws.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Referred 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.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
Insurance Data Protection Act
Data Sources
Sponsor
Cosponsors
(23)Analysis generated by AI. Always verify with official sources.