Insurance Data Protection Act

This bill limits the federal government's ability to force insurance companies to hand over information. It removes the power of two federal offices — the Federal Insurance Office and the Office of Financial Research — to issue subpoenas to insurance companies. Under the bill, if a federal regulator wants data from an insurance company for consumer protection purposes, it must first try to get that information from other regulators or from sources available to the public. If neither of those options works, the regulator can only collect the data directly from the insurance company by following certain paperwork rules.

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