Dozens of American Bankers Insurance Association members met in Washington, D.C., Wednesday for a dialogue with Congress and regulators about the challenges facing banks operating insurance businesses and what to expect in the 114th Congress.
Agenda items included the recently renewed Terrorism Risk Insurance Act and the accompanying establishment of a National Association of Registered Agents and Brokers, both major ABIA priorities. Participants also discussed security challenges related to cyber insurance carriers and the role of the Consumer Financial Protection Bureau in enforcing and authorizing insurance regulations.
In the afternoon, forum attendees headed to Capitol Hill to meet with with lawmakers, including Senate Banking Committee Chairman Richard Shelby (R-Ala.) and Reps. Blaine Luetkemeyer (R-Mo.), Bill Huizenga (R-Mich.), Randy Neugebauer (R-Texas) and Ed Royce (R-Calif.).