As reported in our April 6, 2009, special alert, Representatives Melissa Bean (D-IL) and Ed Royce (R-CA) introduced their 121-page National Insurance Consumer Protection Act, H.R. 1880 on April 2. The Act would establish a federal insurance regulator, permit interested insurers, agencies and producers to seek a national charter, and provide for "systemic risk" regulation. Since its introduction, there have been several critics of the bill, but it has not received as much attention as similar legislation introduced by the authors in prior Congresses. The conversations surrounding this bill, however, are competing with the debates surrounding systemic risk regulation currently at issue in the Administration and the Congress