H.R. 6225: National Insurance Act of 2006

109th Congress · introduced 2006-09-28 · Finance and Financial Sector · Latest: Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.

federal

Follow this bill, step by step

Where it came from: introduced 2006-09-28 · official record
Who proposed it: Rep. Royce, Edward R. [R-CA-40] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

National Insurance Act of 2006

Plain summary

National Insurance Act of 2006 - Establishes in the Department of the Treasury an Office of National Insurance, headed by a Commissioner of National Insurance, with Divisions of Insurance Fraud and of Consumer Affairs, and an Office of the Ombudsman. Authorizes the Commissioner to supervise, regulate, and provide for registration of insurance self-regulatory organizations. Requires the Commissioner to supervise National Insurers and National Agencies, including chartering and licensing. Removes them, as well as federally licensed insurance producers from state oversight of insurance business practices. Authorizes the Commissioner to provide for the organization, operation, and regulation of National Insurance Companies and National Insurance Agencies, including U.S. branches of non-U.S. Insurers. Requires National Insurers to obtain a federal license. Provides for conversion of State Insurers to National Insurers or State Insurance Agencies to National Agencies, and vice versa. Prescribes requirements for National Life Insurer product regulation. Authorizes the Commissioner to: (1) license insurers that are not National Insurers to provide reinsurance; and (2) issue federal insurance producer licenses. Provides for: (1) mergers, consolidations, and acquisitions of National Insurers and National Agencies; and (2) conversion of stock life insurers to National Life Insurer in mutual form, and vice versa. Subjects National Insurers and National Agencies to state taxation. Prohibits states from preventing or restricting National Insurers from engaging in specified insurance business practices. Requires registration with the Commissioner of National Insurers that belong to an insurance holding company system. Provides for prompt corrective action to resolve any hazardous financial condition of a National Insurer, or receivership to rehabilitate or liquidate it. Requires National Insurers to join guaranty associations in each state, which may levy assessments on them for purposes of insolvency protection. Establishes a National Insurance Guaranty Corporation to provide benefits to policyholders of a National Life Insurer placed in federal receivership. Applies federal antitrust laws to National Insurers, National Agencies, and federally licensed insurance producers, except regarding standard insurance policy forms. Exempts National Insurers, National Agencies, and federally licensed insurance producers from state regulation, except as expressly provided in this Act.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

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PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

National Insurance Act of 2006

Source: Congressional Research Service summary (Introduced in House)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Royce, Edward R. [R-CA-40] · 0 cosponsors

Cost estimate: No cost estimate published yet.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-109hr6225.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/109/hr>

Record fed-us-cong109-hr6225 · catalog fed-us-congress-bills-cong109 · updated 2026-11-15 by psicol fed-bills-cong109