Federal Insurance Administration Act

[AI summary unavailable — showing source text] TABLE OF CONTENTS: Title I: Federal Insurance Administration Title II: Regulation of Foreign Insurers Title III: Liquidity Assistance by Federal Reserve Banks to Well-Capitalized Insurance Companies Title IV: Disclosure of Insurance Availability Information Federal Insurance Administration Act - Title I: Federal Insurance Administration - Reestablishes the Federal Insurance Administration of the Federal Emergency Management Agency as an independent entity called the Federal Insurance Administration (FIA). Transfers to the FIA Administrator all functions of the Director of the Federal Emergency Management Agency with respect to crime and flood insurance. Title II: Regulation of Foreign Insurers - Requires a foreign insurer to be certified by the FIA Administrator as the prerequisite for acting as a direct insurer. Requires the Administrator to set certification standards according to prescribed guidelines. Precludes direct insurers who are either licensed or certified from claiming reinsurance from a foreign reinsurer for liability purposes unless the foreign reinsurer is similarly FIA-certified. Directs the Administrator to establish standards for foreign insurers and reinsurers wi…