Bill > S3349

This bill, the Insurance Data Protection Act, seeks to prohibit the Federal Insurance Office of the Department of the Treasury and other financial regulators from directly collecting data from insurance companies. The bill amends existing laws to repeal the subpoena and enforcement authority of the Federal Insurance Office, limit the ability of the Office of Financial Research to issue subpoenas to insurance companies, and establish new requirements for financial regulators to coordinate with relevant agencies and obtain data from them before directly collecting information from insurance companies. Additionally, the bill includes provisions to maintain the confidentiality of any data or information shared by insurance companies with financial regulators.