The National Flood Insurance Program (NFIP), which is administered by the Federal Emergency Management Agency (FEMA), is the primary source for flood insurance in the United States. Over the past few years, FEMA has been updating the NFIP’s risk rating process using a new methodology known as Risk Rating 2.0 (RR 2.0). It is scheduled …
Continue reading FEMA Makes Available More Agent Training Sessions on Risk Rating 2.0
PIA recently joined a coalition of business groups to express our continued support of the 20-percent tax deduction for the qualified business income of qualifying passthrough businesses, or S corporations. The 20 percent deduction was established by the 2017 tax reform law. PIA actively advocated for the passage of the 2017 tax bill (Public Law No. …
Continue reading PIA Objects to Attempts to Reduce or Repeal Passthrough Tax Deduction
PIA is raising concerns about the draft legislative text of the Unemployment Insurance Modernization Act, which is being championed by Senator Ron Wyden (D-OR), Chairman of the Senate Finance Committee, and addresses unemployment insurance reform. Specifically, the discussion draft would require states to use the “ABC test” to determine whether a worker is considered an …
On June 17, the U.S. Senate Committee on Banking, Housing and Urban Affairs held a second hearing on the reauthorization of the National Flood Insurance Program (NFIP). The first hearing was held in May. The hearing featured the testimony of David I. Maurstad, the Deputy Associate Administrator of the Federal Insurance and Mitigation Administration (FIMA), …
Continue reading Risk Rating 2.0 Dominates Second Senate Hearing on NFIP Reauthorization
The Federal Insurance Office (FIO), created by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), is an ongoing threat to the state insurance regulatory system. Back in 2016, PIA was the first national insurance association to advocate for the full repeal of the FIO. In pursuit of that work, PIA led the …
Continue reading Biden Administration Gives Federal Insurance Office New Responsibilities
The Biden administration released its fiscal year 2022 (FY22) budget request on May 28. The Budget request is released every year by each administration and amounts to a wish list of what that administrations’ funding priorities are for the year. While it is never enacted exactly as it is released, a budget request sets the …
Continue reading No Cuts to Crop Insurance in Biden Budget Request
PIA Advocacy Blog 