The Federal Insurance Office should release "without further delay" its reports recommending ways to modernize insurance regulation, the House Financial Services Committee says. The committee aims to make sure that the agency requires no unnecessary data collection by the industry, said Chairman Jeb Hensarling, R-Texas. The panel "will also monitor implementation of the FIO's authority to coordinate policy and represent the U.S. on international insurance issues," especially on methodology for identifying global systemically important insurers, Hensarling said.

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