On November 28, Sen. Katie Britt (R-AL) introduced S.3349, the Insurance Data Protection Act with PIA’s strong support. This legislation will meaningfully reform the Federal Insurance Office (FIO), an unnecessary federal bureaucracy created by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. PIA worked with Senator Britt on the introduction of the bill and our support for the …
Continue reading Insurance Data Protection Act Introduced in Senate
This past September, the Wage and Hour Division of the Department of Labor (DOL) issued a notice of proposed rulemaking (NPRM) to revise the overtime regulations set forth in the Fair Labor Standards Act (FLSA). The current regulation sets forth eligibility exemptions for “executive, administrative, and professional” workers, as well as those engaged in outside …
Continue reading PIA Pushes Back on DOL Overtime Rule Proposal
This week the House and Senate both passed a federal government funding bill, or continuing resolution (CR) to fund the federal government. The federal government and several key programs were set to expire 12:01am Saturday, November 18 if Congress did not act. This CR is unique in that it splits the federal government funding into …
Continue reading Congress Passes Spending Bill with NFIP, Farm Bill Extensions
The U.S. Senate recently passed the Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Fiscal Year 2024 appropriations bill. It passed 82-15, as part of a package with two other funding measures, the Military Construction, Veterans Affairs, and Related Agencies bill and Transportation, Housing and Housing and Urban Development bill. The Senate Appropriations …
Continue reading Senate Calls for Reinstatement of Crop Insurance Inflation Adjustment
The House Financial Services Subcommittee on Housing and Insurance held a hearing today entitled, “The Factors Influencing the High Cost of Insurance for Consumers.” In advance of the hearing, PIA submitted testimony for the record. The hearing examined the status of the domestic insurance industry, including recent developments in the property and casualty insurance market …
Continue reading PIA-Backed Bills on FIO Repeal and Reform Highlighted in House Hearing
The U.S. Treasury Department’s Federal Insurance Office (FIO) is preparing to proceed with a revised data collection that will specifically target property insurers regarding climate risks. The data collection announcement and solicitation of public input come despite ongoing concerns that the data collection will be overly burdensome to insurers, will ignore the existing state insurance …
Continue reading FIO Proceeds With Troubling Climate Data Call
