News

This week, the Big “I” joined other organizations in sending a letter supporting the “Main Street Tax Certainty Act,” which would make the 20% tax deduction on qualified business income permanent.

Reflecting little change from the fourth quarter of 2018, first-quarter 2019 composite rates for commercial and personal lines were both up +2% compared to first-quarter 2018, according to the latest quarterly MarketScout pricing survey.

Last week, a U.S. district judge rejected a Trump Administration rule that would have allowed small businesses and trade groups to band together to purchase health insurance or self-insure.

On Wednesday, the U.S. House of Representatives Financial Services Committee passed legislation designed to protect banking and insurance firms from federal penalties if they provide financial services to cannabis-related businesses legalized at the state

As one of the leading supporters of a modernized state-based system of insurance regulation, the Big “I” supports eliminating or significantly restricting the authority of the Federal Insurance Office.

On Monday, FEMA issued a bulletin stating that consumers cannot receive a refund for unearned premiums if they cancel a NFIP policy mid-term in favor of a private policy.

On Monday, FEMA announced significant changes to the way the NFIP will charge homeowners for flood insurance risks.

On Wednesday, Chris Heidrick, chair of the Big “I” Flood Insurance Task Force, testified before the U.S. House of Representatives Financial Services Committee on reauthorization of the NFIP.

The budget proposal includes $26 billion in cuts to the FCIP and proposed means-testing for the NFIP.

Last week, the Department of Labor issued a new proposed overtime regulation. The regulation, which had been anticipated since last year, comes after the Obama Administration overtime rule was struck down in a Big “I”-supported lawsuit.