[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3323 Introduced in House (IH)]






108th CONGRESS
  1st Session
                                H. R. 3323

 To permit States to require insurance companies to disclose insurance 
                              information.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 16, 2003

 Mr. Schiff (for himself and Mr. Radanovich) introduced the following 
    bill; which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To permit States to require insurance companies to disclose insurance 
                              information.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Armenian Victims Insurance Fairness 
Act''.

SEC. 2. AUTHORIZATION FOR STATES TO REQUIRE DISCLOSURE OF INSURANCE 
              INFORMATION.

    (a) In General.--Any State may implement a law that--
            (1) requires insurance companies conducting business in the 
        State to disclose (and to make publicly available) details 
        regarding some or all covered policies described in subsection 
        (b) that were issued by that company or by any related company; 
        and
            (2) provides for appropriate penalties and sanctions for 
        noncompliance.
    (b) Definitions.--For purposes of this section:
            (1) Covered policy.--A covered policy described in this 
        paragraph is a life, property, liability, health annuity, 
        dowry, educational, or casualty insurance policy that was 
        issued to a policyholder domiciled in the area of Europe or 
        Asia that was occupied or controlled by the Ottoman Empire and 
        that was in effect at any time between 1875 and 1923.
            (2) Related company.--The term ``related company'' 
        includes, with respect to an insurance company, any parent, 
        subsidiary, reinsurer, successor in interest, managing general 
        agent, or affiliate company, whether or not the company was 
        related during the time when a covered policy was sold.
    (c) Congressional Disapproval.--Any Executive branch policy or 
agreement that preempts State efforts to collect insurance information 
to resolve outstanding claims concerning covered policies described in 
subsection (b)(1) is explicitly disapproved by the Congress.
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