The US House of Representatives has extended the National Flood Insurance Program (NFIP) until November 30, 2018. Many inside and outside of the insurance industry have pushed for long-term reforms to the program, such as enhancing existing technology, streamlining and simplifying the NFIP for policyholders, and developing private market options.
The US House of Representatives passed the International Insurance Standards Act of 2018 (H.R. 4537) on July 10, 2018. The legislation is intended to preserve the US state-based system of insurance regulation while giving Congress greater oversight of and transparency in international insurance standard-setting negotiations.
As a follow-up to our previous posts on "Reserve Mech. Corp. v. Commissioner," Captive.com recently touched base with a number of captive insurance industry professionals to share their insights on the Tax Court's decision. Here are their thoughts.
The US Department of Labor (DOL) issued its final rule on association health plans (AHPs) in "Definition of 'Employer' under Section 3(5) of ERISA-Association Health Plans." According to the DOL, AHPs permit small employers and self-employed individuals to join together in purchasing health insurance.
Last week, the US House of Representatives passed S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act. S. 2155 contains a provision to increase transparency at global insurance standard-setting regulatory forums and on any international insurance agreements.