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 …

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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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PIA Opposes Proposal to Allow Sale of Health Insurance Across State Lines

PIA National is strongly opposed to an action taken by the administration that seeks to allow the sale of health insurance across state lines. In October 2017, President Trump issued an executive order (EO #13813), directing federal agencies to consider ways to increase competition and consumer choice in health care. In accordance with this executive …

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Seven Years in the Making, Final Rule on Lender-Approved Private Flood Insurance Almost Complete

The five federal agencies with oversight over mortgage lenders are in the process of jointly issuing a final rule on private flood insurance. Treasury and the FDIC have already indicated their approval of the rule. If it is approved by the Federal Reserve, the Farm Credit Administration, and the NCUA, the final rule will become …

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Twenty Percent Tax Deduction Available to Insurance Agents

In a major win for PIA National and small-business insurance agencies across the country, final regulations were issued on Friday, January 18, by the U.S. Treasury and the Internal Revenue Service (IRS) saying that, for the most part, insurance agents are permitted to take the 20 percent pass-through deduction provided by the tax law passed …

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