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Bill115th CongressFiled Dec 4, 2017Finance and Financial Sector
H.R. 4537

International Insurance Standards Act of 2018

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary passed house amended (Jul 10, 2018)

International Insurance Standards Act of 2018

(Sec. 3) This bill prohibits parties representing the federal government in an international insurance agreement from agreeing to any standard unless it recognizes the existing U.S. system of regulation as satisfying that standard.

(Sec. 4) In developing international insurance standards, the parties must coordinate with state insurance regulators.

(Sec. 5) Parties representing the United States in such proceedings must consult with and notify Congress regarding the intention to participate in the negotiations, the nature and objectives of the negotiations, and the details of the agreement.

(Sec. 6) Before entering into any agreement, the parties must report to Congress regarding the implementation and impact of the agreement.

(Sec. 7) The bill amends the Federal Insurance Office Act of 2010 to modify requirements for an international agreement entered into by the Department of the Treasury's Federal Insurance Office. Such an agreement must only apply on a prospective basis. In developing an agreement, the parties must coordinate with state insurance regulators. Congress has the power to review and disapprove by joint resolution any agreement.

What just happenedJul 11, 2018

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Who’s behind it

Rep. Duffy, Sean P. [R-WI-7](R-WI)Sponsor
12 cosponsors3 D9 R
Read on Congress.gov
12cosponsors3committees19actions2related bills5subjects
  1. Jul 11, 2018IntroReferral

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Banking, Housing, and Urban Affairs Committee
  2. Jul 10, 2018FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Jul 10, 2018FloorH37300

    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6007-6008)

  4. Jul 10, 2018Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H6007-6008)

  5. Jul 10, 2018FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 4537.

  6. Jul 10, 2018FloorH30000

    Considered under suspension of the rules. (consideration: CR H6007-6010)

  7. Jul 10, 2018FloorH30300

    Mr. Huizenga moved to suspend the rules and pass the bill, as amended.

  8. Jul 3, 2018CalendarsH12410

    Placed on the Union Calendar, Calendar No. 623.

  9. Jul 3, 2018DischargeH12300

    Committee on Rules discharged.

    Rules Committee
  10. Jul 3, 2018Committee5500

    Committee on Rules discharged.

    Rules Committee
  11. Jul 3, 2018CommitteeH12200

    Reported (Amended) by the Committee on Financial Services. H. Rept. 115-804, Part I.

    Financial Services Committee
  12. Jul 3, 2018Committee5000

    Reported (Amended) by the Committee on Financial Services. H. Rept. 115-804, Part I.

    Financial Services Committee
  13. Dec 13, 2017Committee

    Ordered to be Reported (Amended) by the Yeas and Nays: 56 - 4.

    Financial Services Committee
  14. Dec 13, 2017Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  15. Dec 12, 2017Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  16. Dec 4, 2017IntroReferralH11100

    Referred to the Committee on Financial Services, and in addition to the Committee on Rules, 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.

    Rules Committee
  17. Dec 4, 2017IntroReferralH11100

    Referred to the Committee on Financial Services, and in addition to the Committee on Rules, 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.

    Financial Services Committee
  18. Dec 4, 2017IntroReferralIntro-H

    Introduced in House

  19. Dec 4, 2017IntroReferral1000

    Introduced in House

Passed House amendedJul 10, 201836

International Insurance Standards Act of 2018

(Sec. 3) This bill prohibits parties representing the federal government in an international insurance agreement from agreeing to any standard unless it recognizes the existing U.S. system of regulation as satisfying that standard.

(Sec. 4) In developing international insurance standards, the parties must coordinate with state insurance regulators.

(Sec. 5) Parties representing the United States in such proceedings must consult with and notify Congress regarding the intention to participate in the negotiations, the nature and objectives of the negotiations, and the details of the agreement.

(Sec. 6) Before entering into any agreement, the parties must report to Congress regarding the implementation and impact of the agreement.

(Sec. 7) The bill amends the Federal Insurance Office Act of 2010 to modify requirements for an international agreement entered into by the Department of the Treasury's Federal Insurance Office. Such an agreement must only apply on a prospective basis. In developing an agreement, the parties must coordinate with state insurance regulators. Congress has the power to review and disapprove by joint resolution any agreement.

Reported to House amended, Part IJul 3, 201818

International Insurance Standards Act of 2018

This bill prohibits parties representing the federal government in an international insurance agreement from agreeing to any standard unless it is consistent with the existing U.S. system of regulation. The parties must coordinate with state insurance regulators. Congress has the power to review and disapprove by joint resolution any such agreement.

The bill amends the Federal Insurance Office Act of 2010 to modify requirements for a covered international agreement entered into by the Department of the Treasury's Federal Insurance Office. Such an agreement must only apply on a prospective basis. Congress has the power to review and disapprove by joint resolution any covered agreement.

Introduced in HouseDec 4, 2017

International Insurance Standards Act of 2017

This bill prohibits parties representing the federal government in an international insurance agreement from agreeing to any standard unless it is consistent with existing federal and state laws. The parties must coordinate with state insurance regulators. Congress has the power to review and disapprove by joint resolution any such agreement.

The bill amends the Federal Insurance Office Act of 2010 to modify requirements for a covered international agreement entered into by the Department of the Treasury's Federal Insurance Office. Such an agreement must only apply on a prospective basis. Congress has the power to review and disapprove by joint resolution any covered agreement.

International Insurance Standards Act of 2018 — Informed