Insurance Consumer Protection Act of 2003

[AI summary unavailable — showing source text] Insurance Consumer Protection Act of 2003 - Establishes within the Department of Commerce an Insurance Regulatory Commission to: (1) gather information on and investigate the insurance business; and (2) designate those classes of insurance that are generally unavailable or unaffordable in certain regions, or to certain groups or businesses, or for which there have been unusually great premium increases, or in the case of any class of liability insurance, for which reinsurance is generally unavailable or unaffordable, or for which there have been unusually great reinsurance premium increases. Requires the Commission to: (1) examine annually interstate insurers; and (2) collect and make available to the public periodic reports of interstate insurance licensees; and compile them in a data base. Prescribes guidelines for Federal licensing and standards governing interstate insurers. Grants the Commission oversight of: (1) State insurance rates; (2) interstate insurance rates; (3) sales and marketing practices of interstate insurers; and (4) accounting and auditing of the industry. Requires the Commission to establish: (1) an Office of Consumer Protection; (2) licensure standards for re…