Washington — The creation of a federal Office of Insurance Information (OII) is much closer to reality after a vote this week in a House subcommittee. The Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises sent H.R. 5840, the Office of Insurance Information Act to full committee.

As expected, the move is garnering mixed action. Proponents of the bill, who view it as necessity to harmonize U.S. regulations with international standards, are praising it.

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