Now that state regulators are warming up to the idea of establishing a federal Office of Insurance Information within the Treasury Department, designed to keep the executive branch informed and coordinate international trade issues, why not just appoint the National Association of Insurance Commissioners to do the job?
Indeed, rather than waste time and money creating a new federal bureaucracy, recruiting qualified staff and establishing a working relationship with state insurance departments, wouldn't it make more sense to simply tap the NAIC to fill the role envisioned in HR 5840–the Insurance Information Act?
Congress could grant the NAIC a federal charter (wouldn't THAT be ironic!), outlining their powers and responsibilities to coordinate national insurance policy and work with Uncle Sam on global trade and regulatory issues.
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