On April 27, Rep. Ben Cline (R-VA) introduced the Federal Insurance Office Elimination Act of 2023. See PIA’s press release here. Rep. Cline’s press release, with PIA quotes, can be found here. The Federal Insurance Office Elimination Act will protect the successful state insurance regulatory system by repealing the Federal Insurance Office (FIO), an unnecessary federal …
Continue reading FIO Repeal Bill, PIA Top Priority, Introduced in the House
In the latest entry in our Commissioner Spotlight series, we are focusing on the head of the Puerto Rico Office of the Commissioner of Insurance, Commissioner Alexander S. Adams Vega. Commissioner Adams has been serving in the Puerto Rico Office of the Commissioner of Insurance for more than 10 years, first as a legal adviser and …
Continue reading Commissioner Spotlight: Puerto Rico Commissioner Alexander S. Adams Vega
Recently, the Risk Management Agency (RMA) responded to a March letter sent by PIA and other agent groups, including the Crop Insurance Professionals Association, urging them to reinstate the inflation adjustment for crop agents. In its response, the RMA stated that, without renegotiating the Standard Reinsurance Agreement (SRA), it cannot reinstate the inflation adjustment, despite …
Continue reading RMA to PIA: Reinstatement of Inflation Adjustment Would Require SRA Renegotiation
Data breaches have increasingly affected every industry that collects consumer nonpublic personal information (NPI). Insurance consumers’ data has been subjected to breaches, too, even though sensitive health information is specially protected by safeguards set forth in the Health Insurance Portability Accountability Act (HIPAA), and other insurance data is protected by the Gramm-Leach-Bliley Act (GLBA) of 1999. Insurance agents and brokers …
Continue reading PIA Asks NAIC to Revise Consumer Privacy Model to Address Independent Agent Needs
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