House Financial Services Committee

• NFIP Rate Hike Delay Unlikely

  By Arthur D. Postal, PropertyCasualty360.com  |  May 13, 2013

  Members of the Senate are scrambling in advance of a May 14 vote to craft an amendment dealing with politically-sensitive hikes in federal flood insurance premiums that would retain the rate structure imposed by a previous law to extend the program.

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  Trouble Ahead: TRIA Renewal Briefing in D.C. Indicates Potential Disconnect

  By Elizabeth D. Festa, PropertyCasualty360.com, Arthur D. Postal, PropertyCasualty360.com  |  May 1, 2013

  A caustic exchange between a key congressional staffer and an industry lobbyist indicates the insurance industry’s deep concerns about prompt congressional action to renew TRIA are not misplaced.

• House Subcommittee Chair Pushes Requirement that Lenders Accept Private Flood Policies

  By Arthur D. Postal, PropertyCasualty360.com  |  April 25, 2013

  demand by a House Financial Services subcommittee chairman that bank regulators move quickly to impose a rule requiring mortgage lenders to accept private flood insurance is prompting a split in the insurance industry.

• Treasury Undersecretary: No More Bailouts, Regardless of Size

  By Arthur D. Postal, PropertyCasualty360.com  |  April 19, 2013

  There will be no more bailouts of financial institutions, a top official of the Obama administration says in what appears to be an attempt to pre-empt Republican efforts to water down the Dodd-Frank Act.

• TRIA Renewal an 'Uphill Climb,' Associations Warn

  By Arthur D. Postal, PropertyCasualty360.com  |  March 22, 2013

  The top staff official of the Property Casualty Insurers Association of America is warning the industry that reauthorization of the Terrorism Risk Insurance Act will be an “uphill climb” in this Congress.

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  Federal Insurance Office Regulatory Report Coming by July

  By Arthur D. Postal, PropertyCasualty360.com  |  March 13, 2013

  The Federal Insurance Office says it will release its long-awaited report on recommendations for modernizing and improving insurance regulation before July.

• Lew Confirmation Could Clear Way for Delayed Federal Insurance Initiatives

  By Elizabeth Festa, PropertyCasualty360.com, Arthur D. Postal, PropertyCasualty360.com  |  February 28, 2013

  The confirmation of Jacob Lew as secretary of the Treasury late Wednesday clears the way for action on several insurance-related issues, including the release of a long-delayed report on insurance-regulation modernization.

• House Financial Services Committee Tells FIO to Pick Up the Pace on Insurance Reports

  By Elizabeth Festa, PropertyCasualty360.com  |  February 15, 2013

  The House Financial Services Committee is urging the Federal Insurance Office to submit several “long overdue reports without further delay.”

• As Industry Pushes for TRIA Renewal, Others Say 'Not So Fast'

  By Arthur D. Postal, PropertyCasualty360.com  |  February 6, 2013

  While insurance-industry representatives are throwing their support behind a bill to extend the Terrorism Risk Insurance Act in its current form, recent comments from other interests show that TRIA proponents will have their work cut out for them to prove that the program is still necessary.

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  House Introduces TRIA Extension, but Tough Road Seen for Passage

  By Arthur D. Postal, PropertyCasualty360.com  |  February 5, 2013

  The House today introduced legislation that would extend the current Terrorism Risk Insurance Act until the end of 2019, representing the opening round of what is expected to be a tough battle to extend the program in its current form.

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  AIG Will Not Join Greenberg Bailout Lawsuit Against Government

  By Arthur D. Postal, PropertyCasualty360.com  |  January 9, 2013

  American International Group won’t join or take over a lawsuit championed by the company’s former Chairman and CEO, Maurice “Hank” Greenberg, over the government’s 2008 bailout of the insurance giant.

• Privatizing NFIP Could Be on Agenda After Sandy-Aid Battles

  By Arthur D. Postal, PropertyCasualty360.com  |  January 7, 2013

  The political and financial fallout from Superstorm Sandy will continue despite President Obama signing legislation on Sunday that will allow the National Flood Insurance Program to continue to pay claims.

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  Congress Passes NFIP Borrowing Authority Increase Amid Calls for Reforms

  By Arthur D. Postal, PropertyCasualty360.com  |  January 4, 2013

  Congress passed and sent to President Obama for signature today legislation that increases the borrowing authority for the National Flood Insurance Program by one-third.

• AIG’s SIFI Designation Delayed

  By Arthur D. Postal and Elizabeth D. Festa  |  December 13, 2012

  The Financial Stability Oversight Council is holding off designating American International Group as a systemically important financial institution, perhaps into next year, according to several sources.

• More Gridlock Ahead?

  By Ted Besesparis  |  December 1, 2012

  This year's election could generate progress--or more of the same

• Industry Continues Offensive on Proposed Fed Regulations at Hearing

  By Arthur D. Postal, PropertyCasualty360.com  |  November 29, 2012

  A top official of State Farm today attacked proposed rules by federal regulators to provide consolidated regulation of insurers that operate thrifts, saying the rules do not make sense and may conflict with existing state-based regulations.