The language in question creates the Office of Independent Insurance Advocate. (Photo: iStock)

The National Association of Professional Insurance Agents (PIA) has sent a letter to Jeb Hensarling, Chairman of the House Financial Services Committee, expressing concerns about the creation of a new federal office called the Office of the Independent Insurance Advocate within the Treasury Department.

Ironically, the new federal office with greatly expanded powers would be created by a provision included in the Financial Creating Hope and Opportunity for Investors, Consumers, and Entrepreneurs (CHOICE) Act — legislation intended to reduce, not increase, federal encroachment resulting from the Dodd-Frank Act.

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Jayleen R. Heft

Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at [email protected]

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