• Federal Insurance Issues We Are Watching During Fall 2013
  • September 12, 2013
  • Law Firm: Sutherland Asbill Brennan LLP - Washington Office
  • 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.