On the Hill

If adopted as proposed, a larger universe of small and midsized insurance agencies and other financial firms would be exempt from many aspects of the regulation.

Charles Symington, Big “I” executive vice president, and Nathan Riedel, Big “I” vice president of political affairs, run through top federal races to watch on election night.

The Center for Medicare and Medicaid Services issued an FAQ for agents and brokers about the implementation of the new Medicare marketing recording requirements.

The insurance industry report focused on the overall insurance industry’s financial performance, condition and outlook for 2023 and beyond.

Charles Symington, Big “I” executive vice president, and Nathan Riedel, Big “I” vice president of political affairs, break down the key factors impacting this year’s midterm elections.

The Big “I” successfully advocated for the Financial Crimes Enforcement Network (FinCEN) to modify a definition that would have added new restrictions to certain state-licensed producers.

The Federal Advisory Committee on Insurance (FACI) members heard a variety of presentations and discussed several issues that are top of mind for regulators, policymakers and agents.

The U.S. Senate passed legislation funding the government through Dec. 16, reauthorizing the National Flood Insurance Program (NFIP) and including the Big “I”-supported “Hermit’s Peak Fire Assistance Act.”

The hearing highlighted the significant increase in wildfire risk over the last several years.

The final rule redefines third-party marketing organizations to include individual agents and brokers, who will now be subject to new requirements.