H.R. 605: Insurance Consumer Protection and Solvency Act of 2013

Introduced:
Feb 08, 2013 (113th Congress, 2013–2015)
Sponsor:
Rep. Bill Posey [R-FL8]
Status:
Referred to Committee

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was assigned to a congressional committee on February 8, 2013, which will consider it before possibly sending it on to the House or Senate as a whole.

Progress
Introduced Feb 08, 2013
Referred to Committee Feb 08, 2013
Reported by Committee ...
Passed House ...
Passed Senate ...
Signed by the President ...
Prognosis

8% chance of getting past committee.
1% chance of being enacted.

Only 11% of House bills made it past committee and only 3% were enacted in 2011–2013. [show factors | methodology]

Cosponsors
none
Committees

House Financial Services

The committee chair determines whether a bill will move past the committee stage.

Full Title

To exclude insurance companies from the Federal Depository Insurance Corporation's "orderly liquidation authority".

Summary

No summaries available.

Text

Read Bill Text »

Last updated Feb 08, 2013.
2 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

2/8/2013--Introduced.
Insurance Consumer Protection and Solvency Act of 2013 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to exclude an insurance company from the definition of a "financial company" for purposes of such Act (thus removing an insurance company from the purview of the Act). Removes from the Federal Deposit Insurance Corporation (FDIC) the authority to place insurance companies into orderly liquidation.
Excludes from the definition of "eligible financial company" for purposes of risk-based assessments an insurance company subject to assessment under state law to cover the costs of state insolvency proceeding regarding an insurance company.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)