On July 22, the U.S. Senate Banking Subcommittee on Securities, Insurance and Investment held a hearing on “Examining Frameworks to Address Future Pandemic Risk.” PIA submitted testimony in advance of the hearing. If Congress legislates on this issue, PIA favors the use of a public-private partnership. In the past, similar steps have been taken to …
Continue reading Senate Banking Subcommittee Turns Attention to Future Pandemic Risk Proposals
On June 17, the U.S. Senate Committee on Banking, Housing and Urban Affairs held a second hearing on the reauthorization of the National Flood Insurance Program (NFIP). The first hearing was held in May. The hearing featured the testimony of David I. Maurstad, the Deputy Associate Administrator of the Federal Insurance and Mitigation Administration (FIMA), …
Continue reading Risk Rating 2.0 Dominates Second Senate Hearing on NFIP Reauthorization
On May 18, the U.S. Senate Committee on Banking, Housing and Urban Affairs held a hearing on the reauthorization of the National Flood Insurance Program (NFIP). PIA submitted testimony in which we urged the Committee to pass a long-term reauthorization and highlighted several specific reforms we’re pursuing this year. The NFIP’s most recent five-year reauthorization …
Continue reading NFIP Hearing in Senate Banking Kicks Off Reauthorization Process
Kevin Cramer was elected to the U.S. Senate from North Dakota in 2018. Previously, he served as North Dakota’s At-Large Member in the U.S. House. Prior to joining Congress, Sen. Cramer served as a commissioner on the North Dakota Public Service Commission. Sen. Cramer received a BA from Concordia College and a master’s degree in …
PIA National has been working to advance legislation to protect insurance agents from federal prosecution for doing business with cannabis-related enterprises in states in which such businesses are legal. To that end, PIA helped develop the Clarifying Law Around Insurance of Marijuana (CLAIM) Act, which would provide a legal safe harbor for independent agents that engage …
Continue reading PIA Urges Senate Action on Cannabis Safe Harbor Bill
On November 20, the U.S. Senate Banking, Housing and Urban Affairs Committee passed legislation to reauthorize the current iteration of the Terrorism Risk Insurance Act (TRIA) for seven (7) years unanimously by voice vote. This action comes two days after the U.S. House passed a companion TRIA reauthorization bill. PIA National issued a press release …
Continue reading TRIA Reauthorization Passed by Senate Banking Committee
Yesterday, Tuesday, June 18th, the Senate Banking, Housing and Urban Affairs Committee held a hearing, for which PIA National submitted testimony, on the reauthorization of the Terrorism Risk Insurance Program (TRIP). This hearing kicked off the reauthorization discussion for the TRIP, which is currently set to expire on December 31, 2020. PIA National has supported …
Continue reading Terrorism Risk Insurance Program Reauthorization Process Begun in Senate Banking
Earlier this year, Senate Banking Committee Chair Sen. Mike Crapo (R-ID) teamed up with Committee ranking member Sherrod Brown (D-OH) to request feedback from interested parties on the privacy, protection, and collection of sensitive information by financial regulators and private companies. In the leaders' statement accompanying the solicitation, they cited the Equifax breach as an …
Continue reading PIA National Responds to Senate Banking Request for Data Privacy Feedback
Sherrod Brown (D) is a U.S. senator from the state of Ohio. First elected to the Senate in 2006, Sen. Brown is now the top Democrat, or Ranking Member of the Senate Banking, Housing and Urban Affairs Committee, which has jurisdiction over most insurance issues. He is continuing in that role after becoming Ranking Member …
Continue reading Member Spotlight: Senator Sherrod Brown, Ranking Member of Senate Banking Committee
Mike Crapo (R) is a senator from the state of Idaho in the United States Senate. First elected to the Senate in 1998, Sen. Crapo is the chairman of the Senate committee that has jurisdiction over most insurance issues, the Banking, Housing and Urban Affairs Committee. He is continuing in that role after becoming chair …
Continue reading Member Spotlight: Senator Mike Crapo, Chairman of Senate Banking Committee
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