Rep. Paul Kanjorski, D-Pa., introduced legislation yesterday that would create a federal insurance adviser within the Treasury Department to provide advice and expertise on insurance regulation to the administration and to Congress.

While insurance is regulated at a state level and would remain so under the proposal, Kanjorski said it is necessary to build knowledge of insurance policy within the federal government. The office would provide advice on most insurers, including financial guarantors, with the exception of health insurance companies, according to a summary of the legislation.

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