Federal Insurance Office Reform Act of 2018

Hozzl · 2025-04-07T15:21:55Z

Explore the details of House Bill 3861 Federal Insurance Office Reform Act of 2018 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

4/7/2025, 3:21 PM

Summary of Bill HR 3861

Bill 115 hr 3861, also known as the Federal Insurance Office Reform Act of 2018, aims to make changes to the Federal Insurance Office (FIO) within the Department of the Treasury. The FIO was established in 2010 to monitor the insurance industry and provide information to Congress and the public.

The main provisions of this bill include requiring the FIO to consult with state insurance regulators when making decisions that could impact the insurance industry. It also requires the FIO to conduct a study on the impact of international insurance standards on the US insurance market.

Additionally, the bill requires the FIO to report annually to Congress on its activities and findings. It also requires the FIO to coordinate with state insurance regulators to ensure that insurance regulations are consistent and do not create unnecessary burdens on insurers. Overall, the Federal Insurance Office Reform Act of 2018 aims to improve the transparency and effectiveness of the FIO in regulating the insurance industry while also ensuring that state regulators have a voice in the decision-making process.

Current Status of Bill HR 3861

Bill HR 3861 is currently in the status of Bill Introduced since September 28, 2017. Bill HR 3861 was introduced during Congress 115 and was introduced to the House on September 28, 2017. Bill HR 3861's most recent activity was Placed on the Union Calendar, Calendar No. 789. as of November 2, 2018