Insurance Data Protection Act

This bill would stop certain federal financial agencies from asking insurance companies for their data directly. In simple terms, the Federal Insurance Office at the Treasury Department and other financial regulators could not collect information straight from insurers. It also points to rules about how data from insurance companies is handled by financial agencies.

Key points:

• Who is affected: federal financial agencies and insurance companies.
• What changes: these agencies would be prohibited from collecting data directly from insurers; the measure addresses how insurance company data is treated by financial agencies.
• When: this would apply if the bill becomes law.