The U.S. House of Representatives will take up a vote this week on legislation, H.R. 5840, which would create a federal insurance office that would be responsible for monitoring insurance markets.  We previously covered H.R. 5840 here, here, and here.  While the proposed insurance office would have the authority to enforce international insurance agreements and limited power to pre-empt state laws that conflict with international agreements, direct regulatory oversight of insurance markets would remain with state insurance departments.  Proponents argue that the legislation primarily seeks to provide the federal government with an informed resource on insurance issues.  Opponents claim that the legislation could lead to a shift from state to federal regulation of insurance or an optional federal charter system, which they claim would hurt consumers.  State officials are split over the bill, with the National Association of Insurance Commissioners (NAIC) generally supporting it, and the National Conference of Insurance Legislators (NCOIL) opposing it.  The text of the bill can be found here.