On the Hill

FEMA announced that it sustained a $4 billion loss last year—making 2016 one of the most expensive years in the program’s history.

As a Republican President takes office on Jan. 20 and Republicans control both chambers of Congress, lawmakers are eager to put their party’s stamp on many important pieces of legislation this year.

From the failure of Google Compare to the launch of Lemonade, 2016 brought big news for independent insurance agents.

For the first time since the 2008 election, one party will control both chambers of Congress and the White House, with the prospect of major legislation impacting independent agents in the years to come.

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.

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.

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.

This week, most discussions in both chambers are expected to revolve around options for the length of a temporary funding bill, also known as a continuing resolution.

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.

In response to an executive order President Obama issued last year as part of his climate change agenda, FEMA has issued a new proposal for defining the “floodplain” for federally funded projects.