On the Hill

Further guidance from the NFIP is expected, but for the time being, the NFIP will not issue new policies or make changes to existing policies.

If legislation to extend the NFIP fails to garner final approval at the last minute, it is unclear what will happen.

Late last week, U.S. District Judge Reed O’Connor ruled that the Affordable Care Act is unconstitutional after Congress repealed the individual mandate.

Last week, the Department of Treasury and the Internal Revenue Service issued draft regulations which would help alleviate complex and unnecessary compliance burdens faced by p-c insurance agents and brokers that place international risks.

On Wednesday, Congress approved a five-year Farm Bill, which President Trump has indicated he intends to sign.

Earlier today, Congress passed a two-week extension of government funding to prevent a partial government shutdown from occurring on Dec. 7. The deal gives Congress time to continue negotiations on funding and other issues, including extending the NFIP.

The NFIP is set to expire at midnight tomorrow. At press time, the U.S. House of Representatives and Senate are both expected to consider legislation to extend the program for one week, to align it with a Dec. 7 government funding deadline, before week’s

The current Farm Bill expired on Sept. 30, leaving several agricultural, environmental and nutrition programs and initiatives in potential limbo.

Earlier this week, the Big “I” and six other insurance trade associations sent a letter to request that the Trump Administration move forward with appointments to the board of directors for the National Association of Registered Agents and Brokers.

Steve Dreyer, who took the helm of the Federal Insurance Office in June, is stepping down effective Friday. Steven Seitz, FIO deputy director, will become acting director until a permanent replacement is named.