As required by the Homeowners Flood Insurance Affordability Act of 2014, starting this month, FEMA will send each NFIP policyholder a letter outlining their known flood risk and how it relates to their premium.
The briefing focused on why flood is different than other perils, where the private flood insurance market currently stands, how the NFIP operates and more.
Shortly after President Trump’s inauguration, the White House released a memo asking all executive agencies to freeze pending regulations so the new Administration has time to review them. President Trump also signed an executive order to roll back parts
FEMA announced that it sustained a $4 billion loss last year—making 2016 one of the most expensive years in the program’s history.
The proposal would mean independent insurance agents who distribute certain annuities through independent marketing organizations could potentially still earn commissions.
While the U.S. Department of Treasury believes the agreement builds “on work largely underway at the state level,” state regulators disagree.
The U.S. Senate passed the FY2017 budget resolution, which includes the first step toward repealing the Affordable Care Act by using the budget reconciliation process.
The Federal Advisory Committee on Insurance appointed Quincy L. Branch, president & CEO of Branch Benefits Consultants in Las Vegas, to represent the interests of insurance agents and brokers.
Commercial insurance wrapped up 2016 with average rate reductions of -1%, while personal lines pricing marked average increases of +2% in December.
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.