The hearing covered a wide range of issues, including private equity’s growing ownership of property-casualty and life insurers, climate risk, credit rating agencies, diversity and inclusion, and pandemic risk insurance.
The comments express concern for the proposal and detail the vital role that agents play in the sale and servicing of National Flood Insurance Program (NFIP) policies.
The new requirement is overly broad and includes individual agents and brokers, who will now be subject to two new requirements.
Big “I” staff met with FEMA as part of the Flood Insurance Producer National Committee (FIPNC) to express concern with the new Direct to Customer initiative proposal.
The legislation now heads to the U.S. House of Representatives, where they are scheduled to vote on the package tomorrow.
A Superior Court ruled that the Washington insurance commissioner lacks the statutory authority to unilaterally ban the use of credit information for rating and underwriting.
In a big win for the Big “I,” the legislation did not include any of the potential small business tax increases that the Big “I” advocated against for the last 19 months.
If enacted, the “American Data Privacy and Protection Act” (ADPPA) would create a national standard on the kinds of data companies can gather from individuals and how they can use it.
The purpose of the hearing was to gather stakeholder and industry perspectives on the current state of the Federal Crop Insurance Program (FCIP).
Legislation includes the SAFE Banking Act preventing criminal prosecution against agents engaging with cannabis-related legitimate businesses, as well as the Hermit’s Peak Fire Assistance Act.
