Congressman Flood & House Republicans Voice Concern Over Federal Agency’s Data Harvesting Operation

WASHINGTON, D.C. – U.S. Congressman Mike Flood recently joined House Republicans on the Financial Services Subcommittee on Housing and Insurance to voice concerns about the Federal Insurance Office’s (FIO) politically-motivated efforts to collect data from property and casualty insurers regarding climate and weather-related risks. The lawmakers are requesting FIO disclose any coordination and collaboration that took place between FIO and state insurance regulators before, and since, the publication of the proposed data collection last fall.

“It is imperative that FIO diligently work with state insurance officials to enhance their role as the only regulators of the business of insurance rather than subject the insurance market to federal bureaucracy and political agendas,” the Republican committee members wrote. “While FIO is permitted to collect data and information from the insurance industry to carry out the enumerated authorities and purposes, such endeavors should be kept within the bounds of traditional insurance regulation.”

Congressman Flood is a member of the Financial Services Committee and Subcommittee on Housing and Insurance. You can read the full letter here.