The bipartisan bill directs the Health and Human Services (HHS) Secretary to update regulations for independent agents, brokers and third-party marketing organizations (TPMOs) under Medicare Parts C and D.
Last week, a bill was reintroduced to clarify the jurisdiction of the Consumer Financial Protection Bureau (CFPB) and affirm that state regulators are best positioned to oversee the insurance industry.
The guidance was set to take effect on June 1 and would have required mortgagors to acquire replacement cost value coverage for their property, including roofs, deeming actual cash value unacceptable.
The Department of Labor (DOL) announced a final rule that will subject the financial services industry to new requirements designed to protect retirement investors from receiving bad or self-interested investment advice.
Independent insurance agents who are considering the impact of the new regulation on their agencies and firms should consider some of the rule’s key elements and certain revisions that were incorporated in the final text.
Rep. Ritchie Torres (D-New York), spoke to Big “I” members about the importance of civil discourse in politics, reaching across the aisle for the good of the country, and building and leveraging relationships.
The bill will require the Government Accountability Office (GAO) to conduct a study on wildfire damage, the existing state of insurance coverage, possible government mitigation responses, and the challenges faced by private insurers.
The act would prevent the Consumer Financial Protection Bureau from pursuing enforcement against any person regulated by a state insurance regulator.
The Big “I” advocated for efforts to address the current property insurance crisis and its impact on consumers at a U.S. House of Representatives hearing.
AM Best downgraded 32 property & casualty companies’ credit ratings in the first half of 2023, including 21 personal lines insurers.
