Senate to Hold Hearings on Major Health Reform Legislation
The U.S. Senate Finance Committee plans to hold a hearing on a new proposal to replace much of the Affordable Care Act: the Graham-Cassidy health care plan.
News
Congress Moves to Keep FSOC Insurance Member
The U.S. House of Representatives voted to allow the Financial Stability Oversight Council independent insurance expert to remain in office until a successor is appointed.
Big ‘I’ Weighs in on Fiduciary Rule Delay
On Wednesday, the Big “I” submitted a comment letter to the U.S. Department of Labor regarding extending the fiduciary rule transition period and delaying the applicability date for certain portions of the rule.
Congress Continues to Take Aim at Crop Insurance
Last week, in another direct attack on private-sector delivery of crop insurance, Congress introduced legislation that would reduce the target rate of return for crop insurance companies from 14.5% to 9.6%.
President Approves Disaster Assistance and NFIP Extension
Last week, Congress passed and President Trump signed into law a $15 billion disaster relief package related to Hurricane Harvey and in anticipation of Hurricane Irma. The legislation also included a short-term extension of the NFIP through Dec. 8.
Court Rejects DOL Overtime Rule
Last week, U.S. Federal District Court Judge Amos L. Mazzant issued a ruling striking down an Obama Administration regulation on overtime pay.
Crop Insurance in the Crosshairs
Last week, the Government Accountability Office released a report on the cost of implementing the Federal Crop Insurance Program—and it sounded familiar.
Federal Court Rules Against Classification of Captive Agents as Independent Contractors
In a class action lawsuit, captive agents of American Family Insurance Company successfully argued that the insurer misclassified them as independent contractors when they actually qualified as employees.
NAIC’s Cybersecurity Model Law Nears Final Adoption
After nearly two years of extensive debate and development, the National Association of Insurance Commissioners began to formally take action on a new cybersecurity model law last week.
DOL Likely to Delay Parts of Fiduciary Rule
The Department of Labor requested that the Office of Budget and Management allow the DOL to issue a notice for public comment to delay full implementation of the fiduciary rule.