The House Financial Services Committee Subcommittee on Housing and Insurance today held a hearing entitled Encouraging Greater Flood Insurance Coverage in America. This hearing focused not just on the National Flood Insurance Program (NFIP) but also on the overall accessibility and availability of flood insurance, as well as ways to increase flood insurance coverage across …
Continue reading PIA Urges Reforms in Flood Insurance Hearing Testimony
The House Financial Services Committee’s Subcommittee on Oversight and Investigations is holding a hearing today entitled: “Holding the Biden Administration Accountable for Wasteful Spending and Regulatory Overreach.” PIA submitted written testimony for the record in advance of the hearing to highlight the recent actions by the Federal Insurance Office (FIO). In 2010, in a misguided …
Continue reading PIA Puts Spotlight on FIO in House Committee Hearing Testimony
The House Financial Services Committee passed the Data Privacy Act in a partisan vote of 26-21 on the evening of February 28 after lengthy debate. The bill would revise existing federal standards created by the 1999 Gramm-Leach-Bliley Act (GLBA) that protect consumer data by expanding the requirements imposed on “financial institutions,” including independent insurance agencies, …
Continue reading Data Privacy Bill Approved by Committee Along Party Lines
After holding a hearing on the subject earlier this month, House Financial Services Committee Chairman Patrick McHenry (R-NC) is set to bring his bill, the Data Privacy Act of 2023, to the full committee for a markup tomorrow, Tuesday, February 28. The bill seeks to revise existing federal standards created by the 1999 Gramm-Leach-Bliley Act …
Continue reading House Data Privacy Bill Would Preempt State Law
The House Financial Services Committee’s Subcommittee on Financial Institutions and Monetary Policy held a hearing today entitled, “Revamping and Revitalizing Banking in the 21st Century.” One of the bills discussed during the hearing, the Financial Data Privacy Act, seeks to revise existing federal standards for consumer data privacy by expanding the requirements associated with the …
Continue reading House Subcommittee Holds Hearing on Federal Data Privacy Bill
PIA National Secretary Ariel Rivera testifying before the House Financial Services Committee The House Financial Services Committee’s Subcommittee on Housing, Community Development and Insurance held a hearing earlier today entitled, “Reauthorization and Reform of the National Flood Insurance Program.” Testifying on behalf of PIA was Ariel Rivera, Secretary of PIA and founder and agency principal …
French Hill was elected to the United States House of Representatives in 2014 to represent the 2nd Congressional District of Arkansas. Before he was elected to Congress, Rep. Hill worked as a commercial banker and investment manager for two decades. He also served during the administration of President George H.W. Bush in positions including Deputy Assistant …
On November 19, the House Financial Services Subcommittee on Housing, Insurance and Community Development held a hearing entitled, “Insuring Against a Pandemic: Challenges and Solutions for Policyholders and Insurers.” This follows a September Congressional Roundtable that PIA National participated in, where we expressed our support for the Pandemic Risk Insurance Act (PRIA), H.R. 7011. In …
Continue reading House Committee Holds Hearing on Insuring for a Pandemic
PIA National has continued to push back against any proposal to retroactively change business interruption (BI) provisions to have them cover coronavirus-related losses. Last week, we worked with a group of Senators on a letter to the administration, highlighting their concerns with that approach. This week, we were pleased to support two letters from U.S. House Members …
Continue reading PIA Works with House Allies to Oppose Business Interruption Proposals
PIA National supports H.R. 4634, which passed the House Financial Services Committee today in a bipartisan vote of 57-0. The bill would extend the Terrorism Risk Insurance Program (TRIP) for seven years with minimal changes to the program. TRIP expires at the end of next year on December 31, 2020. PIA National has been advocating …
Continue reading Terrorism Risk Insurance Bill Passes House Committee
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