Rep. Royce Comments on Signing of U.S.-E.U. Covered Agreement
Targeted News Service
WASHINGTON, Sept. 22 -- Rep. Ed Royce, R-Calif., issued the following statement after the Office of the United States Trade Representative (USTR) and U.S. Treasury Department signed the U.S.-European Union (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."
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