Federal Emergency Management Agency (FEMA) Independent insurance agents deeply focused on the National Flood Insurance Program (NFIP) may already know that, on October 1, the most recently published version of the Flood Insurance Manual took effect. FEMA also recently solicited feedback on the use of Elevation Certificates and Floodproofing Certificates by communities participating in the …
Tag: federal regulation
PIA Asks Senate to Reject ENABLERS
Recently, PIA joined a coalition of trade associations in a letter to Senate Majority Leader Chuck Schumer (D-NY) and Minority Leader Mitch McConnell (R-KY) expressing our opposition to the Establishing New Authorities for Business Laundering and Enabling Risks to Security (ENABLERS) Act, which passed the House as part of this year’s National Defense Authorization Act …
FEMA Stokes Agent Concern Over Online NFIP Sales Proposal
Recently, the procurement office of the Federal Emergency Management Agency (FEMA) quietly issued a request for information (RFI) regarding a proposal to offer consumers the option of purchasing a National Flood Insurance Program (NFIP) policy online. The RFI provides some background on the history of the NFIP and its recent implementation of its Risk Rating …
Continue reading FEMA Stokes Agent Concern Over Online NFIP Sales Proposal
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 …
Continue reading NFA Conference, Note on Statutory Caps, & Upcoming Trainings: A Flood Roundup
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 …
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 …
Continue reading No Surprises Act: Disclosure Requirement Update
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 …
Continue reading Regulatory Requirements for Agents in “No Surprises”
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 …
Continue reading PIA Objects to FIO Investigation of Climate-Related Insurance Risk
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 …
Continue reading Risk Rating 2.0: Frequently Asked Questions (last updated 12/22/21)
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 …
Continue reading The Risk Rating 2.0 Flood Insurance Manual Has Arrived