Political Quotes

“Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 4537) to preserve the State-based system of insurance regulation and provide greater oversight of and transparency on international insurance standards setting processes, and for other purposes, as amended. The Clerk read the title of the bill. The text of the bill is as follows: H.R. 4537 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``International Insurance Standards Act of 2018''. SEC. 2. CONGRESSIONAL FINDINGS. The Congress finds the following: (1) The State-based system for insurance regulation in the United States has served American consumers well for more than 150 years and has fostered an open and competitive marketplace with a diversity of insurance products to the benefit of policyholders and consumers. (2) Protecting policyholders by regulating to ensure an insurer's ability to pay claims has been the hallmark of the successful United States system and should be the paramount objective of domestic prudential regulation and emerging international standards. (3) The Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203) reaffirmed the State- based insurance regulatory system. SEC. 3. REQUIREMENT THAT INSURANCE STANDARDS REFLECT UNITED STATES POLICY.…”