Legislation that would create a federal Office of Insurance Information at the Treasury Department was pulled off the floor in the U.S. House of Representatives last week, although the House did pass a measure to set up a national agency licensing system.
Meanwhile, the clock is ticking for the National Flood Insurance Program, due to expire Sept. 30 without Congressional reauthorization. National Underwriter has learned that efforts are underway to extend the program as is until next March.
House Speaker Nancy Pelosi, D-Calif., decided on Sept. 17 to yank H.R. 5840 off the House "suspension calendar"–which is used to consider what appear to be uncontroversial bills–after Rep. Jackie Speier, D-Calif., a lawmaker from a neighboring district who is serving her first term in Congress, raised questions about how the measure would affect California insurance rate regulation.
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