HI HR35

Urges the United States Congress to oppose any measure that creates a federal insurance office, including House Resolution 2609, the Federal Insurance Office Act of 2009, and the Restoring American Financial Stability Act of 2009.

Opposes federal insurance office proposals because such an entity may be authorized to preempt state insurance laws and regulations.

References the National Conference of Insurance Legislators' opposition to federal insurance office legislation introduced by Congressman Paul Kanjorski in 2008 and 2009.

Notes that President Barack Obama's June 16, 2009 financial services regulatory reform plan called for establishing an Office of National Insurance at the Treasury Department with authority to regulate insurers and administer the Terrorism Risk Insurance Program.

Directs transmission of certified copies of this resolution to Hawaii's congressional delegation and the Secretary of the United States Treasury Department.