The statutory creation of the National Association of Registered Agents and Brokers (NARAB) was included in the 2015 law reauthorizing the terrorism risk insurance program (the Terrorism Risk Insurance Program Reauthorization Act of 2015, which became P.L. 114-1). (More recently, you may remember that the terrorism risk insurance program was reauthorized again in December of …
Tag: federal regulation
NFIP’s Risk Rating 2.0 Delay Prompts PIA National to Renew Its Call for House to Pass Reauthorization Package
On November 7, the Federal Emergency Management Agency (FEMA) announced that it is delaying the implementation of Risk Rating 2.0, a major overhaul of flood insurance rates under the National Flood Insurance Program (NFIP). Risk Rating 2.0 is meant to provide more specific, accurate information about properties covered by the NFIP. Risk Rating 2.0 is …
Overtime Rule Update Finalized by Department of Labor
Earlier this year, the Department of Labor (DOL) issued a proposed rule as part of its consideration of potential revisions to the Fair Labor Standards Act (FLSA) to update the exemption from minimum wage and overtime pay (of 1.5 times their regular pay rate) for “executive, administrative, professional, outside sales, and computer employees.” PIA National submitted comments in …
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Proposed Flood Regulation Could Hurt Agents, Consumers
PIA National recently submitted comments in response to the July 8, 2019 Advanced Notice of Proposed Rulemaking (ANPR)[1] published by Federal Emergency Management Agency (FEMA) regarding the National Flood Insurance Program (NFIP). The ANPR outlines potential changes to the methodology currently used for payments to Write Your Own (WYO) insurance companies selling flood policies in …
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Dept. of Labor Overtime Rule Update
Recently, the Department of Labor (DOL) requested information as it considers revising the Fair Labor Standards Act (FLSA) to update the exemption from minimum wage and overtime pay (of 1.5 times their regular pay rate) for “executive, administrative, professional, outside sales, and computer employees.” Earlier this summer, PIA National submitted comments in response to the …
PIA National: Support for State Insurance Regulation Needs Action, Not Words
PIA National has been leading the insurance industry’s efforts to repeal the Federal Insurance Office (FIO). We helped develop FIO repeal legislation, which was introduced in this Congress by Rep. Alex Mooney (R-WV). PIA National has continued our advocacy by sending a letter of support, providing an action alert for PIA members to send to …
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FIO Repeal Bill, PIA Top Priority, Introduced
PIA National has led the insurance industry on the movement to repeal the Federal Insurance Office (FIO), and we’re pleased that Rep. Alex Mooney (R-WV) has reintroduced H.R. 1862, legislation to repeal the Federal Insurance Office (FIO). PIA National has worked closely with Rep. Mooney on developing this legislation. Building support for it will be …
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