WASHINGTON-- A key lawmaker said at a House hearing on financial reform today that he is ready to introduce legislation creating a federal insurance regulatory agency.

The announcement came from Rep. Paul Kanjorski, D-Pa., chairman of the House Financial Service Committee's Capital Markets Subcommittee, before the panel heard testimony today on the Bush administration's plan for financial reform

Mr. Kanjorski said he will introduce a bill Thursday that will seek to create an interim federal insurance oversight agency, the Office of Insurance Information, within the U.S. Treasury Department.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.