To help address perpetuation challenges faced by many of the nation’s privately held small businesses, the “Main Street Employee Ownership Act” was included in a larger legislative package enacted earlier this month.
This week, the Big “I” joined two other insurance associations in opposition of amendments to the Liability Risk Retention Act that would expand the types of commercial insurance that risk retention groups can offer to certain nonprofit organizations.
Because it provides a framework for states to establish their own cybersecurity rules, the law is particularly important for insurance agencies that handle personal information of clients and employees.
In June, the U.S. House of Representatives and the U.S. Senate passed differing versions of the Farm Bill. Neither bill contains cuts to the Federal Crop Insurance Program.
In case you missed it: Last week, the Internal Revenue Service issued a draft regulation on a key provision of the 2017 tax law that allows for a 20% deduction on “qualified business income” for owners and shareholders of pass-through businesses.
Last week, the Big “I” sent a letter to the Department of Housing and Urban Development in response to a proposal to amend a 2013 rule implementing the Fair Housing Act’s disparate impact standard.
On Tuesday, the U.S. Senate voted to extend the NFIP through Nov. 30 by a vote of 86-12. President Trump signed the measure on July 31, meaning the NFIP did not have a lapse in authority during the height of the Atlantic hurricane season.
The new rule allows for the sale and renewal of STLDI plans that cover longer periods than the previous maximum period of three months.
After the U.S. House of Representatives passed a bill that would extend the NFIP through Nov. 30, the timing for consideration of the measure in the U.S. Senate remains uncertain.
Unless Congress acts, the NFIP is scheduled to expire on July 31. Call the offices of your federal legislators to encourage them to reauthorize the program.
