Regulation/Legislation

Insurance groups again made their case during a New York legislative hearing for reforms to the state's no-fault system, which the groups say is riddled with fraud and costs citizens hundreds of millions of dollars a year.

Despite support from Florida's regulator, CFO, major insurance groups and even some consumer groups, the bills to curb PIP fraud have run into a massive roadblock.

One issue of concern to both agents and customers is the future of the National Flood Insurance Program (NFIP)—still a subject of debate in Congress.

Attorneys general, insurance industry executives and self-proclaimed consumer advocates who want to modify compensation for insurance agents and brokers don’t know what they are talking about, according to free-market advocate, Eli Lehrer.

The speed with which the Dodd-Frank bill should be implemented is generating conflict in Washington.

If Republicans were in search of a friendly venue for their message of spending cuts and regulation reduction, they found a warm embrace a few short blocks from Capitol Hill at the recent meeting of the Independent Insurance Agents & Brokers of America in Washington D.C.