Recently the National Association of Insurance Commissioners (NAIC) held its Spring National Meeting in the city in which it is headquartered: Kansas City, Missouri. PIA was represented at both the Board of Directors meeting of the National Insurance Producer Registry (NIPR) and elsewhere during the NAIC meeting. During the NIPR meeting, the Board took advantage …
Author: Lauren Pachman, Counsel & Director of Regulatory Affairs
Counsel & Director of Regulatory Affairs
NFA Conference, Note on Statutory Caps, & Upcoming Trainings: A Flood Roundup
PIA recently joined the National Flood Association (NFA), and, late last month, Lauren Pachman, PIA’s Counsel & Director of Regulatory Affairs, represented PIA at the NFA’s annual conference in Scottsdale, Arizona. The event assembled experts across all aspects of flood insurance for a two-and-a-half-day conference, where attendees learned not only from the specialists lined up …
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PIA Asks DOL to Hold Stakeholder Meetings Before Proposing Changes to Overtime Exemptions
Last week, PIA joined a coalition of allies in sending a letter to the Wage and Hour Division of the Department of Labor (DOL), asking the DOL to hold meetings with stakeholders in the regulated communities before issuing a Notice of Proposed Rulemaking (NPRM) proposing updates to the Fair Labor Standards Act (FLSA)’s exemptions of …
NAIC Fall National Meeting Wrap-Up
Last month, the National Association of Insurance Commissioners (NAIC) held its Fall National Meeting. Here is a synopsis of the most notable aspects of the meeting. Creation of New “Letter” Committee First, some background on the NAIC’s structure may be helpful. The NAIC places its committees at the top, with subgroups, working groups, and task …
No Surprises Act: Disclosure Requirement Update
The “No Surprises” Act was passed as part of the Consolidated Appropriations Act (CAA) of 2021 last year, and it was meant to reduce the effect and frequency of surprise medical bills on people with health insurance. No Surprises targets a variety of billing issues, including the direct and indirect compensation of agents/brokers involved in the …
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Regulatory Requirements for Agents in “No Surprises”
Medical insurance claim form with stethoscope and surgical face mask. There are also other pieces of paperwork on the desk, including a patient form. The No Surprises Act, which was passed as part of the Consolidated Appropriations Act (CAA) of 2021, was designed to reduce the effect and frequency of surprise medical bills on health …
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PIA Objects to FIO Investigation of Climate-Related Insurance Risk
PIA has a long history of supporting the state regulation of insurance and opposing federal insurance oversight. Since 2016, one of our annual top legislative priorities has been the repeal of the Federal Insurance Office (FIO), which was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Our advocacy was vital …
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Risk Rating 2.0: Frequently Asked Questions (last updated 12/22/21)
When Risk Rating 2.0 (RR 2.0) went into effect for new (and some renewing) NFIP policies, we created this series of Frequently Asked Questions (and answers!) that we hope will help to inform and guide your decision making as you familiarize yourself with RR 2.0. Please note: The information contained herein is current as of the …
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PIA Seeks Delay in Risk Rating 2.0 Implementation
Earlier today, PIA became the first national insurance association to ask Federal Emergency Management Agency (FEMA) administrator Deanne Criswell to delay the implementation of Risk Rating 2.0. In previous blog posts, we have discussed the value of the new Risk Rating 2.0 (RR 2.0) methodology, which is scheduled to go into effect on Oct. 1, …
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The Risk Rating 2.0 Flood Insurance Manual Has Arrived
As anticipated, the Risk Rating 2.0 Flood Insurance Manual (FIM) was released on Sept. 1. An update to the existing FIM was released at the same time, as was a final version of the Industry Transition Memo (ITM). Here is what you need to know about each. Industry Transition Memo The ITM, linked above, explains …
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