Legislation Threatens to Abolish Federal Insurance Office
The Automotive Service Association (ASA) announced that bills to abolish the Federal Insurance Office (FIO) have been introduced in the U.S. House of Representatives and the U.S. Senate.
Automotive Service Association Continues to Prevent Dismantling of Federal Insurance Office
“We will need collision repairers to stand with us one more time this congressional session to protect a regulatory tool that is structured to help consumers and collision repairers,” said Scott Benavidez, AAM, ASA collision operations committee director from Albuquerque, N.M.
ASA Legislative Update: Federal Insurance Office Survives Dodd-Frank Reform
After Senate passage and much discussion with the House leadership, the House passed S. 2155 May 22 by a vote of 258-159, leaving the Federal Insurance Office in tact.
ASA: Federal Insurance Office Still at Risk After Senate Passes Dodd-Frank Reform Bill
On March 14, the U.S. Senate passed S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act, which is a wide-ranging bank deregulation bill that would scale back key parts of the 2010 Dodd-Frank law.
Automotive Service Association Meets with U.S. Treasury Officials to Discuss Future of Federal Insurance Office
Attendees were able to provide FIO senior officials with first-hand insight into the relationships between collision repair shops, consumers and insurance companies.
Federal Insurance Office Releases Insurance Modernization Report
The Automotive Service Association (ASA) announces the U.S. Department of the Treasury’s Federal Insurance Office (FIO) has released its long-awaited report on how to modernize and improve the system of insurance regulation in the United States. The report was mandated as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The report was
Creation of Federal Insurance Office Off Docket in 112th Congress
A.M. Best Company, Inc., reported that optional federal charter legislation will not come to a vote in the current Congress, according to Rep. Judy Biggert, R-Ill., chairwoman of the U.S. House Financial Services Subcommittee on Insurance, Housing and Community Opportunity. According to Biggert, the subcommittee’s agenda is focused on reauthorizing and reforming the National Flood
Senate Passes Financial Reform Bill Creating Federal Insurance Office
The Senate has passed H.R. 4173, Restoring American Financial Stability Act of 2010, in a 60-39 vote, after having stalled activity on the conference report for more than a week. The legislation is now awaiting signature by President Barack Obama. The bill includes augmentation to the current insurance policies, creating a Federal Insurance Office (FIO)
State Insurance Regulators Back Creation of Federal Insurance Office
Changes to proposed legislation creating a Federal Insurance Office (FIO) have earned support from state insurance regulators. In a letter, the National Association of Insurance Commissioners (NAIC) told the House Financial Services Committee that amendments to the Federal Insurance Office Act (H.R. 2609) ensure state regulation continues to protect insurance consumers and companies. “The recent
House Committee Passes Federal Insurance Office Act
The U.S. House of Representatives Committee on Financial Services has passed H.R. 2609, the "Federal Insurance Office Act," by a unanimous voice vote. H.R. 2609, introduced by Rep. Paul E. Kanjorski, D-Pa., would establish an Office of Insurance Information in the Department of the Treasury. A similar bill died in committee last year. Rep. Melissa