Regulation/Legislation

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.

Ambac Assurance’s segregated account will not begin to make claims payments beginning in May because regulatory officials are not comfortable with the company’s ability to pay claims, officials say.