In a comment letter to the Federal Insurance Office yesterday, the American Bankers Insurance Association called for FIO to reconsider its definition of “captive insurer” under a proposed rule to implement recent changes to the Terrorism Risk Insurance Act. The proposed rule differentiates “captive insurers” from “small insurers” for the purposes of the data collection requirements proposed in the rule. ABIA argued that this distinction is inappropriate, as it treats small captive insurers differently than other small insurers. For more information, contact ABA’s Sarah Ferman.
Senate passes bipartisan housing package
The Senate passed a bipartisan bill seeking to boost housing supply by removing regulatory barriers and creating incentives for communities that build more homes.
