On the Hill

NFIP Bulletin: What Changes Can You Expect Next Year?

This week, FEMA released a bulletin outlining NFIP changes that apply to new business and renewals—and may impact you and your flood insurance policyholders when they take effect on or after April 1, 2017.

House Committee Moves ‘CHOICE Act’

The legislation is a proposal to reform the financial services regulatory system by repealing, revising or replacing many sections of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Senate Committee Reviews NFIP Flood Maps

This week, the Big “I” submitted a joint trade association letter to the U.S. Senate Banking Committee hearing outlining priorities for the next NFIP reauthorization.

DOL Exempts State Retirement Plans from ERISA

The intent of the recent DOL regulation is to encourage more states to establish retirement programs for private-sector workers, as similar efforts at the federal level have not gained traction.

FACI Considers Insurance Implications of Autonomous Cars

At a recent Federal Advisory Committee on Insurance meeting, KPMG experts said they predict self-driving cars will become the “new normal” over the next 25 years—and that the insurance industry could experience significant impacts within the next decade.

Big ‘I’ Questions Short-Term Health Proposal

The Internal Revenue Service, Department of Labor and Department of Health and Human Services released a joint proposal that would place restrictions on short-term health insurance under the Affordable Care Act.