Support the Policyholder Protection Act (H.R. 1478/S. 798)
Insurance premiums must remain available to pay policyholder claims, and not be used as a piggy bank to save an affliated bank from faliure or financial distress.
This bill clarifies state insurance regulators' authority to wall off insurance assets in companies organized as savings and loan holding companies.
Tell FSOC to work smarter to reduce systemic risk in the financial system
The Financial Stability Oversight Council (FSOC) needs to provide companies a clear path to remove designation as a Systemically Important Financial Institution (SIFI).
State regulators need to know what clear and specific criteria FSOC believes makes an insurer systemic before they can mitigate such risk.