To reconstitute the Federal Insurance Administration as an independent agency within the executive branch, provide for minimum standards applicable to foreign insurers and reinsurers providing insurance in the United States, make liquidity assistance available to well-capitalized insurance companies, and provide for public access to information regarding the availability of insurance, and for other purposes.
Anti-Redlining in Insurance Disclosure Act - Requires certain insurers to maintain and make available to the Secretary of Commerce (the Secretary) and the public specified information relating to their insurance practices and activities with respect to property and casualty insurance sold in urban areas, such as the number of policies sold by census tract, itemized by demographic characteristics.
Directs the Secretary to: (1) study and report to certain congressional committees on the availability of commercial insurance for small businesses; and (2) develop and submit to certain congressional committees a proposed data collection pilot project in certain metropolitan statistical areas (MSAs) to ascertain the need for additional data to evaluate the availability of insurance coverage for small businesses.
Directs the Secretary to: (1) exempt insurers operating under State disclosure requirement laws substantially similar to those under this Act; and (2) implement a public information central depository in each designated MSA to disseminate the information required under this Act. Prescribes data collection parameters for designated MSAs and insurers, including: (1) private passenger automobile insurance; (2) homeowners insurance; and (3) dwelling fire and allied lines of insurance.
Requires the Secretary to establish a task force on insurance agency appointments to review and report to certain congressional committees on: (1) the status of insurance agency appointments for inner city and minority agents; (2) the practices of insurers in terminating agents; and (3) recommendations to improve the ability of inner city and minority agents to market property and casualty insurance.
Permits the Secretary to use data collection contractors and statistical agents.
Requires the Secretary to compile data annually for each MSA for all insurers either subject to or exempt from this Act.
Provides civil penalties for violations of this Act.
Directs the Secretary to study and report to certain congressional committees on: (1) the feasibility and utility of collecting information on specified characteristics of insurance applicants and the reasons for their rejection; and (2) actions by insurers to meet the property and casualty insurance needs of low- and moderate-income and minority neighborhoods, and the small businesses located in such neighborhoods.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Sponsor introductory remarks on measure. (CR E579-580)
Referred to the Subcommittee on Consumer Credit and Insurance.
Subcommittee Hearings Held.
Subcommittee Hearings Held.
Subcommittee Consideration and Mark-up Session Held.
Forwarded by Subcommittee to Full Committee (Amended).
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 30 - 19.
Sponsor introductory remarks on measure. (CR E2250)
Reported (Amended) by the Committee on Banking, Finance + Urban Affrs. H. Rept. 103-302, Part I.
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Reported (Amended) by the Committee on Banking, Finance + Urban Affrs. H. Rept. 103-302, Part I.
Referred sequentially to the House Committee on Energy and Commerce for a period ending not later than Nov. 19, 1993 for consideration of such provisions of the bill and amendment as fall within the jurisdiction of the committee pursuant to clause 1(h), rule X.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by Voice Vote.
Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 103-302, Part II.
Reported (Amended) by the Committee on Energy and Commerce. H. Rept. 103-302, Part II.
Placed on the Union Calendar, Calendar No. 166.