Cannabis Safe Harbor Insurance Bill Introduced

On July 22nd, Senator Bob Menendez (D-NJ) and Senator Rand Paul (R-KY) introduced S. 2201, the Clarifying Law Around Insurance of Marijuana (CLAIM) Act. The CLAIM Act recognizes the need for a comprehensive federal safe harbor for insurers and insurance agents who sell insurance to both cannabis-related legitimate businesses and other commercial and personal lines …

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New NFIP Bill Poses Threat to Agent Commissions

On July 18, Senators Bob Menendez (D-NJ) and Bill Cassidy (R-LA) introduced bipartisan legislation, the National Flood Insurance Program Reauthorization and Reform Act of 2019 (S. 2187), to reauthorize the NFIP for five years. The bill’s 10 cosponsors are from both chambers and both sides of the aisle. A House companion bill (H.R. 3872) was introduced …

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PIA National Signs Joint Industry Letter Wary of Disclosure Provisions In Senate Health Care Bill

In early June, PIA National was joined by other industry trade associations in expressing concerns with a disclosure provision in the discussion draft of the “Lower Health Care Costs Act” that was released by the Senate Health, Education, Labor and Pensions (HELP) Committee. This draft legislation contains multiple provisions aimed at targeting the rising cost …

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PIA Top Priority FIO Repeal Introduced in Senate

PIA National is pleased that Senator Ted Cruz (R-TX) today introduced S. 1586, the “Federal Insurance Office Abolishment Act” in the Senate. This legislation is a companion bill to H.R. 1862 by Rep. Alex Mooney (R-WV), which was introduced in the House earlier this year. PIA National worked closely with Senator Cruz to develop this …

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PIA National Responds to Senate Banking Request for Data Privacy Feedback

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 …

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Tax Bill to Make Passthrough Deduction Permanent Introduced in Senate With PIA Support

Only a week after the 2019 PIA Federal Legislative Summit (FLS), Senator Steve Daines (R-MT), has introduced a PIA National priority, S. 1149, the "Main Street Tax Certainty Act of 2019," to make permanent the 20 percent tax deduction available to passthrough entities. S.1149 is the companion bill to H.R. 216, bipartisan House legislation introduced …

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Member Spotlight: Senator Sherrod Brown, Ranking Member of Senate Banking Committee

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 …

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