HI SR37

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 legislation introduced by Congressman Paul Kanjorski that would establish an Office of Insurance Information or Federal Insurance Office at the Treasury Department with authority to preempt state insurance laws and regulations.

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

Aligns with the National Conference of Insurance Legislators' position opposing federal insurance office proposals due to concerns about preemption of state insurance measures and open-ended federal regulatory authority.

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