Insurance Data Protection Act

Hozzl · 2025-06-13T08:06:49Z

Explore the details of House Bill 3437 Insurance Data Protection Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

6/13/2025, 8:06 AM

Summary of Bill HR 3437

The bill titled "To prohibit the Federal Insurance Office of the Department of the Treasury and other financial regulators from collecting data directly from an insurance company" was introduced in the 119th Congress as H.R. 3437 on May 15, 2025.

Congressional Summary of HR 3437

Insurance Data Protection Act

This bill limits the ability of federal entities to compel insurance companies to share information.

Specifically, the bill eliminates the subpoena power of the Federal Insurance Office. Under current law, the office has the power to subpoena information from insurers to, among other purposes, identify issues that could contribute to a systemic crisis in the insurance industry or the U.S. financial system.

The bill also eliminates the ability of the Office of Financial Research to subpoena insurance companies.

When seeking to collect insurance company data under specified consumer protection laws, a financial regulator must obtain the data from other regulators or from publicly available sources if possible. Otherwise, the financial regulator may only collect this data directly from the insurance company if the regulator complies with the Paperwork Reduction Act.

Read the Full Bill

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Current Status of Bill HR 3437

Bill HR 3437 is currently in the status of Bill Introduced since May 15, 2025. Bill HR 3437 was introduced during Congress 119 and was introduced to the House on May 15, 2025. Bill HR 3437's most recent activity was Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, 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. as of May 15, 2025

Bipartisan Support of Bill HR 3437

Total Number of Sponsors

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Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 3437

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HR 3437

To prohibit the Federal Insurance Office of the Department of the Treasury and other financial regulators from collecting data directly from an insurance company.

Comments

Keyla Goldstein

782

10 months ago

Ugh, this bill is terrible.

Wyatt Chappell

797

10 months ago

I don't like how this bill is gonna mess with my insurance info.

Charlee Boswell

699

10 months ago

I think this new bill is a great step in protecting our personal information when it comes to insurance data. It's important that our sensitive data is kept safe and secure, especially in this digital age where cyber attacks are becoming more common. With this bill in place, I feel more at ease knowing that my personal information is being safeguarded. I believe that this bill will have a positive impact on many individuals like myself who rely on insurance for various needs. It's reassuring to know that measures are being taken to ensure that our data is not being misused or compromised in any way. I wonder what the short term effects of this bill will be on insurance companies and how they will adjust to comply with the new regulations.

Jimmy Fitzgerald

726

11 months ago

So, like, this bill is totally gonna mess with my insurance info, man. Why can't they just leave it alone? It's like they don't even care about our privacy or something. I mean, who even came up with this idea? It's just gonna make things more complicated for everyone. Ugh, politics, am I right? #confused #notcool