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Monday, November 25, 2013

NCOIL Annual Meeting: NFIP & TRIA Updates

The National Conference of Insurance Legislators (NCOIL) met last week in Nashville, TN to discuss state positions on issues including flood insurance reform (NFIP) and reauthorization of the Terrorism Risk Insurance Act (TRIA).

NCOIL adopted a resolution supporting efforts in Congress to delay implementation of the Biggert-Waters amendment as it applies to grandfathered properties. NCOIL's Property and Casualty Committee adopted this resolution of support with near unanimity after several hours of debate, which included consumer representatives and officials from FEMA.

In addition, NCOIL called for prompt enactment of Rep. Grimm's TRIA Reauthorization bill introduced in the House, H.R. 508. ABIA's Kevin McKechnie appeared on the panel with National Association of Insurance Commissioners' (NAIC) President Jim Donelon, Commissioner from Louisiana, in support of reauthorization.
Learn more about NCOIL's support of delaying NFIP rate increases.

If you would like to learn more about ABIA's support of TRIA or join our TRIA Task Force, please contact us and visit our website.