U.S. Rep. Blaine Luetkemeyer (MO-03) issued the following statement upon conclusion of the Housing and Insurance Subcommittee hearing titled “The Impact of International Regulatory Standards on the Competitiveness of U.S. Insurers: Part II.”

“The purpose of today’s hearing was to learn more about both the positive and negative implications that stem from international insurance standards and agreements. International regulatory efforts have the potential to benefit U.S. insurance markets and consumers, but we must be careful that we do not support any standard or agreement that could threaten the model of insurance supervision that has protected policyholders and kept our nation’s insurance market financially strong and competitive. It is of the upmost importance that the United States maintains its involvement in international conversations and that the Executive Branch and Congress work cooperatively to signal to the International Association of Insurance Supervisors, the Financial Stability Board, and foreign governments that our nation will only lend our name to standards that benefit U.S. consumers and help to maintain a robust domestic insurance marketplace.”