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Federal Insurance Issues We Are Watching During Fall 2013



by Sutherland Asbill Brennan LLP - Washington Office

September 12, 2013

Previously published on September 10, 2013

The United States Congress has returned from its summer recess. On its first full day back in session, the U.S. House of Representatives passed (by a vote of 397-6) long-stalled legislation that would fundamentally alter the U.S. system for licensing insurance producers ("NARAB II"). While the House has passed similar legislation twice before, this year is the first time the full Senate is also preparing to take up NARAB II. Whether or not producer licensing tops your priorities list, House action on this bill is just the first step in what promises to be an active period of insurance public policy discussions at a national level. Indeed, while Syria, the debt ceiling, and budget showdowns are grabbing headlines, there is arguably more insurance activity occurring in Washington since before the enactment of the Dodd-Frank Act. In addition to activity on NARAB II, committees in both the House and Senate are preparing to hold hearings on the reauthorization of the Terrorism Risk Insurance Act and hearings to reevaluate the impact of last year’s reauthorization of the National Flood Insurance Program.


 

The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance.
 

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