On September 3, the House Appropriations Committee passed the Financial Services and General Government (FSGG) Appropriations Act for FY’26, which begins on October 1, 2025. Included in the FSGG bill is a policy provision from Rep. Scott Fitzgerald’s (R-WI) Insurance Data Protection Act (H.R.3437). This provision would prevent funds for FY’26 from being used to implement, administer, …
Tag: Federal Insurance Office (FIO)
PIA Releases Issues of Focus for Advocacy Day
PIA has released its Issues of Focus in preparation for its upcoming 2025 Advocacy Day scheduled for September 17. PIA members will highlight these issues during their meetings with their elected representatives on Advocacy Day. While these issues are our focus for Advocacy Day in 2025, we always work to promote the interests of our independent …
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A Conversation with Congressman Troy Downing (R-MT)
As the sponsor of the Federal Insurance Office Elimination Act, Congressman Troy Downing is at the forefront of efforts to reshape federal oversight of the insurance industry. Formerly Montana’s State Auditor, Rep. Downing oversaw the state’s insurance industry and brings firsthand regulatory experience to Capitol Hill. Now serving in Congress, he sits on the House …
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Two PIA-Supported Bills Reintroduced in 119th Congress
On January 23, two bills backed by PIA were reintroduced in the 119th Congress. The Main Street Tax Certainty Act (H.R. 703/ S.1149), sponsored by Rep. Lloyd Smucker (R-PA) and Senator Steve Daines (R-MT), would make permanent the 20% tax deduction available to some S Corporations, known as passthroughs. Without Congressional action, this important tax …
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PIA Holds Annual Advocacy Day on Capitol Hill
Independent insurance agents from around the nation converged on Washington, D.C. on September 18 for PIA’s annual Advocacy Day. Agents met with Senators, Representatives, and congressional staff to discuss PIA’s key legislative issues. Among PIA’s top issues were building support for the Ensuring Access to Risk Management Act, a bipartisan bill requiring USDA’s Risk Management …
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PIA Top Priority Included as Financial Services Funding Bill Passes House Appropriations Committee
On June 13, the House Appropriations Committee passed the Financial Services and General Government (FSGG) Appropriations Act for FY’25, which begins on October 1, 2024, by a vote of 33-24. Included in the FSGG bill is a policy provision that PIA supports and has been actively advocating in favor of from Rep. Scott Fitzgerald’s (R-WI) …
FIO Subpoena Power Defunded in House Subcommittee Funding Bill
On June 5, the House Appropriations Financial Services subcommittee passed their Financial Services and General Government (FSGG) spending bill for FY’25, which begins on October 1, 2024, by voice vote. Included in the spending bill is a policy provision that PIA strongly supports and has been actively advocating in favor of from Rep. Scott Fitzgerald’s …
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FIO Reform Bill Passes House Committee with PIA’s Full Support
On April 17, the House Financial Services Committee passed the Insurance Data Protection Act, which was introduced by Rep. Scott Fitzgerald (R-WI) with PIA’s strong support, by a vote of 28-22. 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. The …
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In PIA Victory, FIO Cancels Climate Data Collection Plan, Allowing NAIC to Lead Data Call
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 …
PIA Reiterates Objections to FIO Climate Data Call
Last month, the Federal Insurance Office (FIO) of the Treasury Department issued a Notice of Information Collection and Request for Comment (NIC/RFC) on its planned data collection of climate-related financial risk information associated with U.S. homeowners’ insurance underwriting. In its latest regulatory action, the FIO sought the approval of the Office of Management and Budget …
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