The Biden administration is once again trying to force its climate agenda onto insurance companies.
The Federal Insurance Office (FIO), a subagency of the Treasury Department, is collecting climate-related data from property and casualty insurers. But collecting this type of data is the responsibility of state insurance regulators, not the FIO.
Republican lawmakers on the House Financial Services Committee panel are demanding answers from FIO Director Steven Seitz.
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 authorizes the FIO to collect certain data, but it limits such actions to traditional regulation and mandates consultation with state insurance regulators.
The FIO’s recent actions are not in line with the letter or spirit of the law.
This type of government overreach is unacceptable. It’s time for Republicans to stand up against it and hold the FIO accountable for their actions.
We can’t let the Biden administration trample on our constitutional rights and try to dictate how private businesses operate.
Source https://www.foxnews.com/politics/republicans-probe-biden-admins-climate-overreach-consumer-insurance