PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Health.
Congressional Research Service
Version 00 · Introduced in House · Apr 2, 2009
National Insurance Consumer Protection Act - Establishes in the Department of the Treasury the Office of National Insurance (Office), headed by a Commissioner, with regulatory oversight over national insurers and national insurance agencies.
Directs the Commissioner to license, regulate, and supervise national insurance producers.
Requires the Commissioner to establish: (1) a Division of Consumer Affairs; (2) a Division of Insurance Fraud; and (3) an Office of the Ombudsman.
Showing the opening paragraphs of the official summary.
Authorizes the Commissioner to provide for the registration of insurance self-regulatory organizations and to supervise and regulate them.
Requires the Commissioner to: (1) issue regulations on prudential supervision; (2) require national insurers and national insurance agencies to comply with federal anti-money laundering requirements; (3) promulgate regulations for prompt corrective action for any hazardous financial condition of a national insurer; (4) issue charters for national insurers and national agencies; (5) promulgate financial, policy, and market conduct standards; and (6) establish standards for a national insurance holding company.
Authorizes the Commissioner to: (1) examine national insurers or national insurance agencies; (2) impose fees upon national insurers, national insurance agencies, and national insurance producers; (3) revoke the charter of a national insurer or national insurance agency for specified cause, (4) implement enforcement powers, including cooperation with foreign governments; (5) secure bilateral and multilateral agreements with foreign insurance regulators and regional and global regulatory organizations; and (6) license individual persons as a national insurance producer.
Establishes criminal penalties for insurance fraud by national insurers, national insurance agencies, national insurance producers, and other persons.
Directs the President to designate a systemic risk regulator for a national insurer and any insurance company subject to state supervision.
Establishes: (1) the Coordinating National Council for Financial Regulators; and (2) the National Insurance Guaranty Corporation.
Prescribes procedures for conservatorship, receivership, benefits and claims payments, and assessments on national insurers.
Exempts insurers, national insurance agencies, and national insurance producers from state supervision relating to the sale, solicitation, negotiation, or underwriting of insurance, or to any other insurance operations.
People & committees
Rep. Bean, Melissa L. [D-IL-8] · D–IL
Legislative record
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Referred to the Subcommittee on Health.
Referred to House Energy and Commerce
Referred to House Judiciary
Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, and Energy and Commerce, 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.
Referred to House Financial Services
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.
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