Washington, D.C. — U.S. Senator Katie Britt (R-Ala.), a member of the Senate Committee on Banking, Housing, and Urban Affairs, has introduced the Insurance Data Protection Act (S. 1544) alongside 10 Republican Senate colleagues. The bill aims to reinforce the authority of state insurance regulators and limit the reach of the Federal Insurance Office (FIO), an agency created under the 2010 Dodd-Frank Act.
This legislation, first introduced by Senator Britt during the previous Congress, would formally curtail the FIO’s authority to collect data from insurance companies through subpoena power. It would also establish new guidelines to ensure any federal data requests are coordinated with state insurance agencies and prioritize the use of publicly available information before initiating any collection efforts.
Senator Britt stated that the bill seeks to reaffirm the long-standing state-based regulatory framework of the U.S. insurance industry. Supporters of the measure argue that the FIO has recently exceeded its statutory role—particularly during the Biden administration—by initiating data collection efforts related to climate risk, which critics view as politically motivated and burdensome to the industry.
“The Insurance Data Protection Act will take important steps to push back against federal government overreach, preserve state-based insurance regulation, and protect Americans’ data,” said Senate Banking Committee Ranking Member Tim Scott (R-S.C.), a co-sponsor of the bill.
Other Republican senators cosponsoring the legislation include Mike Rounds (S.D.), Mike Crapo (Idaho), Thom Tillis (N.C.), John Kennedy (La.), Bill Hagerty (Tenn.), Cynthia Lummis (Wyo.), Pete Ricketts (Neb.), Jim Banks (Ind.), and Kevin Cramer (N.D.).
Several industry organizations have voiced support for the bill, including the American Council of Life Insurers, American Property Casualty Insurance Association, National Association of Mutual Insurance Companies, Independent Insurance Agents & Brokers of America, and the Professional Insurance Agents.
While proponents assert the legislation is necessary to preserve the autonomy of state-level regulators and protect against unnecessary data collection costs, opponents—if any—have not yet publicly responded to the bill’s reintroduction.
