Government Affairs

The Big “I” has serious concerns with draft legislation that could impact how agents receive compensation for selling flood insurance policies.

Last month, a group of federal agencies issued a proposal that aims to clear up confusion regarding when a lender may accept private flood insurance under federal law.

This week, FEMA released a bulletin outlining NFIP changes that apply to new business and renewals—and may impact you and your flood insurance policyholders when they take effect on or after April 1, 2017.

This week, the Big “I” submitted a joint trade association letter to the U.S. Senate Banking Committee hearing outlining priorities for the next NFIP reauthorization.

This week, most discussions in both chambers are expected to revolve around options for the length of a temporary funding bill, also known as a continuing resolution.

In response to an executive order President Obama issued last year as part of his climate change agenda, FEMA has issued a new proposal for defining the “floodplain” for federally funded projects.

The NAIC principles are intended to serve as recommendations for Congress to consider during upcoming discussions regarding reauthorization of the NFIP.

A new Government Accountability Office report cites regulatory uncertainty, refunds and market challenges as barriers to increased use of private market flood insurance policies.

Last week, 23 members of the U.S. House of Representatives sent a letter to FEMA requesting an increase in oversight of private insurers that participate in the NFIP.

At a U.S. Senate committee hearing last week, the Big “I” provided a statement on NFIP delivery, affordability and long-term program stability for small businesses.