News

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.

Big ‘I’ Honors Legacy of Rep. Mike Oxley

The Big “I” mourns the passing of longtime friend and congressman Mike Oxley (R-Ohio), who served more than 12 terms in the U.S. House of Representatives and was at the forefront of many critical pieces of insurance and financial services legislation over

2016 Kicks Off With an Even Softer Market

Property-casualty insurance pricing closed out 2015 with a soft market: Average commercial rates declined to -4% in December from -3% in November and the personal lines composite held steady at -1%, according to the latest MarketScout pricing survey.

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