On October 1, 2009, Rep. Paul Kanjorski (D-PA), Chairman of the key House Financial Services Subcommittee, released substitute language for his earlier introduced H.R. 2609 to create a federal insurance office within Treasury. This new insurance information role within the federal government is an element of the President’s financial services regulatory reform plan announced in June 2009, and part of Congress’ ongoing efforts to craft financial services reform legislation for banking, securities and insurance. Hearings in both the House Financial Services Committee and Senate Banking Committee will continue throughout October and November, with additional revisions expected. To view the legislation, click here.