News

House Holds International Insurance Regulation Hearing

The U.S. House of Representatives Financial Services Committee and Housing and Insurance Subcommittee held a hearing that featured perspectives from insurers and academia regarding insurance regulatory standards.

Big ‘I’ Pushes Back on Commission Cuts

Insurers in several states have reduced agent and broker commissions for individual health insurance plans. To fight these actions, the Big “I” recently sent a letter expressing concern.

Insurance Agency M&As Reach All-Time High in 2015

Buyers and sellers reported 451 mergers and acquisitions of insurance agencies in 2015 in U.S. and Canada—more than ever before, according to a recent report from OPTIS Partners.

President Obama’s 2017 Budget Targets Insurance Issues

Earlier this week, President Obama released his budget for fiscal year 2017. This blueprint proposes changes to the “Cadillac” tax and sets the stage for additional cuts to the Federal Crop Insurance Program.

Mr. Lanoix Goes to Washington

Big “I” Chairman Randy Lanoix was on Capitol Hill this week, where he met with members of Congress to advocate on behalf of the association and lay the groundwork for the 2016 Big “I” Legislative Conference.

Committees Move DOL Fiduciary Rule Bills

This week, two companion bills—which would prohibit the Department of Labor from finalizing its proposed fiduciary rule without congressional approval—made strides in the U.S. House of Representatives.

Department of Labor Issues Guidance on Joint Employment

Earlier this month, the Department of Labor Wage and Hour Division released its first major guidance of 2016: an administrator’s interpretation on what constitutes joint employment under the Fair Labor Standards Act.

Congress Revs Up Review of the NFIP

Earlier this week, the Big “I” testified before the U.S. House of Representatives Committee on Financial Services Subcommittee on Housing and Insurance at a hearing focused on efforts to reform and reauthorize the NFIP before its expiration.

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