The U.S. House has passed legislation to reauthorize the National Flood Insurance Program until Sept. 30, 2016.

The National Association of Insurance Commissioners today dropped its support for exempting insurance agents’ commissions from the medical loss ratio provision of the healthcare reform law.

The Federal Emergency Management Agency says in a letter that taking over management of more than 800,000 flood insurance policies currently administered by State Farm will save the agency more than $50 million annually, compared to the cost of the current Write-Your-Own program.

The National Association of Insurance Commissioners today dropped its support for exempting insurance agents’ commissions from the medical loss ratio provision of the healthcare reform law.

The property and casualty insurance industry is sending a letter to members of the House urging them to reject a flood-insurance bill amendment that would phase out the program as of January.

Rep. Barney Frank, D-Mass., says large financial institutions such as insurers are running away from being labeled “systemically significant” even though one benefit would likely be a reduced cost of capital.

Property and casualty insurers want federal regulators to re-examine rules allowing Medicare to be reimbursed for medical claims that are at least partially covered by private-insurance coverage such as workers’ compensation and auto.

A National Association of Insurance Commissioners task force said it will support House legislation that would remove agent commissions from the medical loss ratio.