Category: U.S. Congress

U.S. Government Accountability Office: Clarifications Could Facilitate States’ Liability Risk Retention Act Implementation; Regulators Surveyed

Jan 17, 2012

  In 2005, to better protect Risk Retention Group (“RRG”) insureds, the U.S. Government Accountability Office (“GAO”) recommended the implementation of more uniform, baseline state regulatory standards, including corporate governance standards. Since then, the National Association of Insurance Commissioners (“NAIC”) …

U.S. House Financial Services Subcommittee Reviews Insurance Regulatory Oversight Policy Implications; NCOIL Predicts NIMA Issues, Center for Economic Justice Says Insurance Premiums Should Not Include Lobbying Expenses

Jul 28, 2011

  Predicting that the National Association of Insurance Commissioners’ (“NAIC”) Nonadmitted Insurance Multi-State Agreement will face continued constitutional challenges about its “improper and unconstitutional delegation of authority to a regulator . . . ” Alabama State Representative and National Conference …

FEMA Administrator Craig Fugate Testifies Before U.S. Senate Banking, Housing and Urban Affairs Committee in Washington D.C. on National Flood Insurance Program Reauthorization

Jun 9, 2011

  Federal Emergency Management Agency (“FEMA”) Administrator Craig Fugate testified today, June 9, 2011, on the reauthorization of the National Flood Insurance Program (“NFIP”) during a hearing before the United States Senate Banking, Housing and Urban Affairs Committee (“Committee”) in …

Missouri Insurance Director John Huff to U.S. House Subcommittee: Insurers, Consumers Will Be Impacted If Insurance Regulators’ Input Not Leveraged on Financial Stability Oversight Council

Apr 14, 2011

  Missouri Department of Insurance Director John Huff testified before the U.S. House of Representatives’ Committee on Financial Services Subcommittee on Oversight and Investigations (“Subcommittee”) today, April 14, 2011, about the lack of adequate insurance expertise on the newly created …