On the Hill

Last week, the Big “I” sent a letter to U.S. House of Representatives Financial Services Committee Chairman Jeb Hensarling (R-Texas) voicing support for the state-based system of insurance regulation.

A number of moderate Democrats introduced a bill now pending in the U.S. House of Representatives that would amend parts of the Department of Labor’s overtime rule.

A new Government Accountability Office report cites regulatory uncertainty, refunds and market challenges as barriers to increased use of private market flood insurance policies.

Last week, 23 members of the U.S. House of Representatives sent a letter to FEMA requesting an increase in oversight of private insurers that participate in the NFIP.

The most recent nominees—who join seven other individuals nominated earlier this year—consist of two state regulators and one private sector representative.

Earlier this week, the Federal Insurance Office released the methodology it will use to examine and determine the affordability of automobile insurance across the country.

At a U.S. Senate committee hearing last week, the Big “I” provided a statement on NFIP delivery, affordability and long-term program stability for small businesses.

The new Defend Trade Secrets Act of 2016 gives trade secret owners the option to bring civil lawsuits for breach of confidential information using federal law.

In an effort to help member agencies better understand the Department of Labor overtime rule, the Big “I” recently updated a Q&A document on the topic.

Last week, Republican leaders in the U.S. House of Representatives revealed a plan to change both individual and business tax rates.