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Rep. Royce on Signing of U.S.-E.U. Covered Agreement: “A Big Win for American Consumers”

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Washington, September 22, 2017 | comments

WASHINGTON D.C. – Today, U.S. Representative Ed Royce (R-Calif.), Chairman of the House Foreign Affairs Committee and a senior member of the House Financial Services Committee, released the following statement after the Office of the United States Trade Representative (USTR) and U.S. Treasury Department signed the U.S.-E.U. covered agreement:

“Today’s signing of the covered agreement is a big win for American consumers. Providing regulatory certainty and leveling the playing field for U.S.-based insurers and reinsurers operating in the E.U. will result in billions of dollars in savings while protecting American jobs.”


Last September, Representative Royce questioned Federal Insurance Office (FIO) Director Michael McRaith about the importance of a U.S.-E.U. covered agreement to protect American insurance firms and consumers during a Housing and Insurance Subcommittee hearing entitled “The Impact of the U.S.-E.U. Dialogues on U.S. Insurance Markets.”

Chairman Royce also sent a letter to the Treasury Department and USTR urging them to begin the negotiations with the E.U. that led to the agreement.

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