On the Hill

The executive order includes 72 initiatives by over a dozen federal agencies to tackle what President Biden deems are some of the most pressing competition problems in the U.S.

The legislation includes an act requiring all new cars to have an alert system to prevent children being accidently left in back seats, as well as a provision that would increase the required amount of insurance for commercial vehicles.

Several members of Congress have expressed concerns about—and even introduced legislation to delay—the implementation of FEMA’s new pricing methodology for the National Flood Insurance Program (NFIP).

In a hearing, the U.S. House Agriculture Committee Subcommittee on General Farm Commodities and Risk Management examined farm safety net programs, of which agents play a crucial role, and their true benefits to the farming community.

The webinars are designed specifically for independent agents to learn more about FEMA’s new pricing methodology for the National Flood Insurance Program (NFIP).

In a letter to Capitol Hill, the Big “I” and other organizations noted strong opposition to any reductions or repeal of the 20% deduction for qualified business income under Section 199A.

The hearing covered topics including the structure of the National Flood Insurance Program (NFIP), the role of private flood insurance, and Risk Rating 2.0.

The Big “I” urged the Department of Health and Human Services to avoid any outcomes that formally or effectively apply these new mandates to agents and brokers.

Important for Big “I” members, the budget includes proposals to increase the corporate tax rate, capital gains tax and an end to the “stepped-up basis” allowing the tax free passing of investments to heirs after death.

The new information provides localized rate analysis at the zip code level for all 50 states and the District of Columbia, as well as flood mitigation actions for policyholders.