U.S. Representative Ed Royce

39th District of California
 

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.”


Background:

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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