On August 29, PIA sent a letter to congressional leaders asking that they reauthorize the National Flood Insurance Program (NFIP) beyond its current September 30 expiration date and for as long a period as possible. The history of NFIP extensions has been messy. The program was extended 17 times between 2008 and 2012, when the …
Continue reading PIA Urges NFIP Extension in Letter to Congressional Leaders
A report issued yesterday by the Federal Insurance Office (FIO) has concluded that state insurance regulators should more aggressively address climate-related risks. The FIO, which is housed within the Treasury Department, produced the report in response to an Executive Order (EO) on Climate-Related Financial Risk, which was issued by the Biden administration in early 2021. …
Continue reading FIO Climate Report: NAIC, State Insurance Depts Must Address Climate Risk
This week, Sens. Bob Menendez (D-NJ) and Bill Cassidy (R-LA) introduced bipartisan legislation that would reauthorize the National Flood Insurance Program (NFIP) for five years and make several changes to the program. The National Flood Insurance Program Reauthorization and Reform Act of 2023 has a House companion bill, which is sponsored by Reps. Frank Pallone (D-NJ) …
Members of PIA of Virginia meet with Congressman Ben Cline (R-VA) PIA members from around the nation converged on Washington, D.C. on May 10 for its 2023 Advocacy Day. Agents met with Senators, Representatives, and legislative staffers to discuss PIA’s key legislative issues. Among PIA’s top issues were a request to the USDA’s Risk Management …
On April 27, Rep. Ben Cline (R-VA) introduced the Federal Insurance Office Elimination Act of 2023. See PIA’s press release here. Rep. Cline’s press release, with PIA quotes, can be found here. The Federal Insurance Office Elimination Act will protect the successful state insurance regulatory system by repealing the Federal Insurance Office (FIO), an unnecessary federal …
Continue reading FIO Repeal Bill, PIA Top Priority, Introduced in the House
On February 9, Reps. Kathy Castor (D-FL), and Blaine Luetkemeyer (R-MO) reintroduced H.R. 900, the Continuous Coverage for Flood Insurance Act. The bill would provide continuous coverage protection to policyholders who leave the National Flood Insurance Program (NFIP) to purchase a private flood policy and then need to return to the NFIP. H.R. 900 would …
Continue reading Flood Insurance Continuous Coverage Bill Introduced
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
Last week, Lauren Pachman, PIA’s counsel and director of regulatory affairs, participated in a panel discussion hosted by the National Flood Association (NFA), on whose board she serves. She was joined on the panel by Chris Brown of Mindset, Brett Hewitt of the American Property Casualty Insurance Association (APCIA), Travis Johnson of 1607 Strategies, and …
The 118th Congress begins today, January 3rd, 2023, bringing divided leadership to Washington, D.C. The Republican party is now in control of the U.S. House of Representatives, which is made up of 222 Republicans and 212 Democrats (and one vacancy). The U.S. Senate will continue to be led by the Democratic party, which has 48 Senate …
Continue reading 118th Congress Begins Amid Leadership Uncertainty
The federal government is currently on the precipice of finalizing a sweeping, $1.7 trillion omnibus funding package, just in time to prevent a looming government shutdown, which would have begun at midnight tonight. Funding the government through the end of the current fiscal year was the final item on the 117th Congress’s agenda. The omnibus …
Continue reading Omnibus Heads to Biden’s Desk for Signature
