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PIA Reaffirms Support for H.R. 5143

PIA has reaffirmed its strong support of the Transparent Insurance Standards Act of 2016 (H.R. 5143),scheduled for action in the House. PIA National worked with the bill’s sponsor, Rep. Blaine Luetkemeyer (R-MO) in developing the legislation and will continue to advocate for its passage...
December 8, 2016

PIA has reaffirmed its strong support of the Transparent Insurance Standards Act of 2016 (H.R. 5143),scheduled for action in the House. PIA National worked with the bill’s sponsor, Rep. Blaine Luetkemeyer (R-MO) in developing the legislation and will continue to advocate for its passage.

H.R. 5143 seeks to increase transparency and cooperation in international negotiations and to ensure that state insurance regulation is afforded appropriate deference in any federal or international decision-making process.

“If global standards are promulgated without appropriate consideration of the unique state-based system of U.S. insurance regulation, they may actually increase systemic risks and consumer costs by pushing small and midsize companies out of business, reducing competition,” said PIA National Executive Vice President & CEO Mike Becker.

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