Photo by Sveta K on Pexels.com Last week, the Senate Committee on Banking, Housing, and Urban Affairs held a hearing examining the value of disaster mitigation as a means of strengthening the American insurance markets. Witnesses included representatives of the American Property Casualty Insurance Association (APCIA); the Center for Industrial Progress, and the Insurance Institute …
Continue reading Senate Banking Hearing Homes in on Disaster Mitigation
Photo by Beate Vogl on Pexels.com In April, PIA sent a letter to Representatives Brett Guthrie (R-KY) and John Joyce (R-PA), the chairman and vice-chairman of the House Energy and Commerce Committee, in response to their Request for Information (RFI) to explore the development of a federal data privacy and security framework. Earlier this year, the two established …
Continue reading PIA to Congress: Let States Regulate Insurance Data Privacy
Last month, the U.S. District Court for the Eastern District of Texas struck down the Department of Labor (DOL) final rule on overtime, meaning that the rule is no longer in effect anywhere in the United States. This past spring, the final rule changed the procedures applicable to workers’ eligibility for overtime pursuant to the …
Continue reading Court Strikes Down Overtime Rule: Key Takeaways
PIA has navigated a rush of flood-related activity over the past several weeks. Please read on for some highlights of PIA’s recent work on flood insurance. Proposed New NFIP Endorsements Late last year, the Federal Emergency Management Agency (FEMA) proposed significant regulatory changes to the documents governing the Standard Flood Insurance Policy (SFIP) issued to …
Continue reading PIA’s Flood Insurance Advocacy: NFIP & Related Updates
The U.S. Department of Labor (DOL) Overtime Rule was finalized in April and will be implemented in two phases for all affected workers. Phase 1 will become effective on Monday, July 1, 2024; Phase 2 will become effective on Jan. 1, 2025. Legal challenges may delay or narrow the scope of its implementation, or block …
Continue reading FAQs on Overtime Rule Changes Effective July 1, 2024
Over the past several weeks, both Congress and the National Association of Insurance Commissioners (NAIC) have turned their attention back to data privacy. Congressional Data Privacy Activity In May, the Innovation, Data, and Commerce Subcommittee of the House Energy and Commerce (E&C) Committee marked up a discussion draft of the American Privacy Rights Act (APRA) …
Continue reading PIA Engages with NAIC and Congress on Data Privacy
Last month, the Privacy Protections (H) Working Group (the Working Group) of the National Association of Insurance Commissioners (NAIC) issued a request for information concerning the Working Group’s path forward regarding its ongoing work to modernize the state regulation of consumer insurance data. The Working Group sought input on whether it should continue work on …
Continue reading PIA Comments to NAIC Working Group on Consumer Privacy Issues
Last week, the U.S. Federal Trade Commission (FTC) announced a final rule imposing a near-universal ban on noncompetes once it becomes effective later this year. Last year, the FTC’s publication of a notice of proposed rulemaking (NPRM) to ban the use of noncompete provisions and agreements between employers and workers raised alarm bells among independent insurance agents. Independent …
On April 23, the U.S. Department of Labor (DOL) issued its final rule changing the rules governing worker eligibility for overtime in accordance with the Fair Labor Standards Act (FLSA). The FLSA requires most employers to pay their “non-exempt” hourly workers time and a half (150 percent of their hourly wage) for every hour of work over …
In a win for PIA, consumers, and supporters of the state insurance regulatory system, the Federal Insurance Office (FIO) announced that it was abandoning its unprecedented effort to collect data on climate-related risks from property and casualty insurance carriers on behalf of the federal government. Instead, the National Association of Insurance Commissioners (NAIC) will now …
