,,ii #aahth ,,congress #ast ,session ,s4 #ccdi ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,november #bh1 #bjbc,mrs4 ,britt 7for herself1 ,mr4 ,hagerty1 ,mr4 ,scott of ,south ,carolina1 ,mr4 ,rounds1 ,mr4 ,tillis1 ,ms4 ,lummis1 ,mr4 ,vance1 ,mr4 ,daines1 ,mr4 ,cramer1 ,mr4 ,budd1 ,mr4 ,thune1 ,mr4 ,boozman1 ,mr4 ,cotton1 ,mr4 ,ricketts1 ,mrs4 ,blackburn1 ,mr4 ,crapo1 and ,mr4 ,kennedy7 introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to prohibit the ,federal ,insurance ,office of the ,department of the ,treasury and other financial regulators from collecting data directly from an insurance company4 #a4 ,short title ,this ,act may be cited as the ,insurance ,data ,protection ,act4 #b4 ,repeal of subpoena and enforcement authority ,section #cac7;e7 of title #ca1 ,united ,states ,code1 is amended by striking paragraph 7#f74 #c4 ,confidentiality by ,federal ,insurance ,office ,section #cac7;e77#e7 of title #ca1 ,united ,states ,code1 is amended-- 7#a7 in subparagraph 7,a71 by inserting after ,office the following3 1 or the sharing of any nonpublicly available data and information with or by the ,office among any other ,federal agency1 any ,state insurance regulator 7or any agent of such a regulator71 or any other entity12 7#b7 in subparagraph 7,c77ii71 by inserting any privilege described in subparagraph 7,a7 or after including2 and 7#c7 in subparagraph 7,d71 by inserting including the exceptions under that section1 after ,united ,states ,code14 #d4 ,limitation on subpoenas by the ,office of ,financial ,research ,section #aec7;f77#a7 of the ,financial ,stability ,act of #bjaj 7#ab ,u4,s4,c4 #ecdc7;f77#a77 is amended1 in the matter preceding subparagraph 7,a71 by inserting after financial company the following3 7other than an insurance company1 as defined in section #bja7;a774 #e4 ,confidentiality by financial regulators 7a7 ,in general ,the ,financial ,stability ,act of #bjaj 7#ab ,u4,s4,c4 #ecaa et seq47 is amended by adding at the end the following3 ,d ,treatment of data collected from insurance companies #aha4 ,treatment of data collected from insurance companies by financial regulators 7a7 ,definitions ,in this section3 7#a7 ,covered entity ,the term covered entity means a nonbank financial company that is an insurance company4 7#b7 ,financial regulator ,the term financial regulator means the ,commission1 the ,commodity ,futures ,trading ,commission1 the ,council1 the ,federal banking agencies1 and the ,office of ,financial ,research4 7#c7 ,insurance company ,the term insurance company has the meaning given the term in section #bja7;a74 7b7 ,advance coordination 7#a7 ,in general 7,a7 ,pre-collection ,before collecting any data or information pursuant to this title or title ,,ii from a covered entity1 a financial regulator shall coordinate with each relevant ,federal agency1 ,state insurance regulator1 and other ,federal or ,state regulatory agency1 and with any publicly available source1 to determine if the data or information to be collected is available from1 and may be obtained in a timely manner by1 that agency1 regulator1 or regulatory agency1 individually or collectively1 or that publicly available source4 7,b7 ,determinations 7i7 ,information available ,if a financial regulator1 under subparagraph 7,a71 determines that the data or information described in that subparagraph is available1 and may be obtained in a timely manner1 from an agency1 regulator1 regulatory agency1 or source described in that subparagraph1 the financial regulator shall obtain the data or information from that agency1 regulator1 regulatory agency1 or source4 7ii7 ,information unavailable ,if a financial regulator1 under subparagraph 7,a7 determines that the data or information described in that subparagraph is not available1 the financial regulatory may collect that data or information from the applicable covered entity only if the financial regulator complies with the requirements of subchapter ,i of chapter #ce of title #dd1 ,united ,states ,code 7commonly referred to as the #8,paperwork ,reduction ,act'71 in collecting that data or information4 7#b7 ,authority to provide information ,notwithstanding any other provision of law1 for the purposes of paragraph 7#a71 each relevant ,federal agency and ,state insurance regulator or other ,federal or ,state regulatory agency may provide to a financial regulator data or information described in that paragraph4 7c7 ,confidentiality 7#a7 ,retention of privilege ,the sharing by a covered entity of any nonpublicly available data or information with a financial regulator under this title or title ,,ii shall not constitute a waiver of1 or otherwise affect1 any privilege arising under ,federal or ,state law 7including the rules of any ,federal or ,state court7 to which the data or information is otherwise subject4 7#b7 ,continued application of prior confidentiality agreements ,any requirement under ,federal or ,state law to the extent otherwise applicable1 or any requirement pursuant to a written agreement in effect between the original source of any nonpublicly available data or information and the source of that data or information to a financial regulator1 regarding the privacy or confidentiality of any data or information in the possession of the source to a financial regulator1 shall continue to apply to that data or information after the data or information has been provided under this section to the financial regulator4 7#c7 ,information-sharing agreement ,any data or information obtained by a financial regulator may be made available to ,state insurance regulators1 individually or collectively1 through an information-sharing agreement that-- 7,a7 shall comply with applicable ,federal law2 and 7,b7 shall not constitute a waiver of1 or otherwise affect1 any privilege under ,federal or ,state law 7including any privilege described in paragraph 7#a7 and the rules of any ,federal or ,state court7 to which the data or information is otherwise subject4 7#d7 ,agency disclosure requirements ,section #eeb of title #e1 ,united ,states ,code1 including the exceptions under that section1 shall apply to any data or information submitted to a financial regulator by a covered entity under this section4 4 7b7 ,technical amendment ,the table of contents in section #a7;b7 of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7,public ,law #aaa-bjc7 is amended by inserting after the item relating to section #agf the following3 ,subtitle ,d--,treatment of data collected from insurance companies,sec4 #aha4 ,treatment of data collected from insurance companies by financial regulators4 4