House Bill 4592
116th Congress(2019-2020)
International Insurance Standards Act of 2019
Introduced
Introduced in House on Oct 1, 2019
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4592
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
International Insurance Standards Act of 2019
This bill prohibits parties representing the federal government in an international insurance agreement from agreeing to any standard unless it recognizes the existing U.S. system of regulation as satisfying that standard. In developing international insurance standards, the parties must coordinate with state insurance regulators.
Parties representing the United States in such proceedings must consult with and notify Congress regarding the intention to participate in the negotiations, the nature and objectives of the negotiations, and the details of the agreement. Before entering into any agreement, the parties must report to Congress regarding the implementation and impact of the agreement.
October 1, 2019
10/01/2019
Referred to the House Committee on Financial Services.
10/01/2019
Introduced in House
Public Record
Record Updated
Nov 1, 2022 1:49:44 PM