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.
NFIB: Small-business optimism falls but remains above average
The NFIB Small Business Optimism Index declined two points in September to 98.8, according to the National Federation of Independent Business.
