Leigh Ann Pusey News

How Financial Reform Package Affects Insurance, Surplus Lines

The Senate has passed the Dodd-Frank financial services reform package that will have some impact on the insurance industry and add involvement by the federal government in the state-based insurance regulatory system. The 2,300-page bill, which passed the Senate by …

House May Vote on Federal Flood Insurance Extension Today

Insurers are urging the House of Representatives to pass legislation today that would extend the National Flood Insurance Program (NFIP) for five years. The measure, HR 5114, the “Flood Insurance Reform and Priorities Act of 2010″, sponsored by Representative Maxine …

Senate Approves Financial Reform Bill

The U.S. Senate approved a sweeping Wall Street reform bill Thursday night, capping months of wrangling over the biggest overhaul of financial regulation since the 1930s. By a vote of 59-39, the Senate approved S. 3217, the “Restoring America’s Financial …

Insurance Agents, Carriers Make Progress in Modifying Dodd Bill

Insurance agents and carriers are reporting progress in their efforts to modify a proposed federal financial services regulation bill passed by the Senate Banking Committee, while risk managers have extended their support to the legislation. Lobbyists for the Independent Insurance …

Property/Casualty Insurers Have Issues with Dodd Financial Reform Bill

Even though they are largely excluded from the federal financial regulatory overhaul proposed in the Senate, property/casualty insurers say there are some elements they fear could negatively affect them and their customers. Sen. Chris Dodd, D-Conn., unveiled his “Restoring American …

House Panels Face Environmental, Insurer Groups Over Catastrophe Bill

Two House subcommittees have scheduled a joint hearing today on ways to address homeowners insurance costs in disaster-prone communities, an issue that has some environmentalists, taxpayer groups and insurers standing together. Testimony at today’s hearing will revisit the Homeowners Defense …

House Committee Passes Federal Insurance Office Act

The U.S. House Financial Services Committee has passed a measure to create a scaled-back federal office that would be a national insurance information agency with some authority in the area of international insurance agreements. The new federal office would not …

Insurance Trades Cast Wary Eyes at Senate Financial Services Bill

Chairman Christopher Dodd (D-Conn.) of the Senate Banking Committee on Tuesday introduced a draft of the long-awaited financial services regulatory reform bill. While insurance industry representatives were quick to applaud Dodd, the committee and staff on their work, they also …

House Passes National Flood Insurance Extension Act

The U.S. House of Representatives passed the National Flood Insurance Program (NFIP) Extension Act of 2009, H.R. 3139, which extends the program until March 31, 2010. The NFIP is currently set to expire on September 30, 2009. Earlier this year, …

Legislation to Extend National Flood Program Introduced into Congress

Legislation that would temporarily extend the National Flood Insurance Program (NFIP) until March 31, 2010, was introduced into Congress yesterday. House Financial Services Housing Subcommittee Chairwoman Maxine Waters, D-Calif., and Committee Chairman Barney Frank, D-Mass., introduced the extension bill, which …