PIA Applauds U.S. House Passage of
Package with Three PIA Priorities Included
Flood Insurance and Terrorism Insurance Programs Extended,
Healthcare "Cadillac Tax" to be Repealed as Part of Package
PIA applauds the U.S. House for passing H.R. 1865, part of the federal
government funding package that includes three of PIA National's most
important policy priorities: an extension of the National Flood Insurance
Program (NFIP) until September 30, 2020; the permanent repeal of the
Cadillac Tax; and an extension of the terrorism risk insurance program
(referred to as TRIA) through the end of 2027. The House vote was 297-120.
PIA urges the Senate to pass this important bill as soon as possible and
for the president to sign it into law.
[Quotes below can be attributed to Jon Gentile, Vice President of
Government Relations with the National Association of Professional
Seven-Year TRIA Extension
"The funding package includes a seven-year reauthorization of the Terrorism
Risk Insurance Act (TRIA) program without substantive changes. PIA has been
actively advocating for the long-term reauthorization of the TRIA program
throughout 2019, and we're pleased this has been accomplished more than a
year before its scheduled expiration of December 31, 2020. TRIA is essential
for ensuring terrorism does not risk destroying our economy should an attack
Nine-Month NFIP Extension
"PIA has worked tirelessly to ensure the National Flood Insurance Program does
not lapse as its expiration date of December 20 looms. To that end, PIA is
happy our efforts paid off, and the program will be extended for more than
nine months, to September 30, 2020, as part of the federal funding package.
The NFIP is currently on its 14th short-term extension since its last long-term
authorization expired in 2017.
"The House Financial Services Committee unanimously passed a PIA-supported
long-term reauthorization of the program with necessary reforms in June 2019.
However, progress has stalled since. While it's disappointing that the program
will again be extended on only a short-term basis, the nine-month extension
will provide us with more time to work with Congress to ensure the ultimate
passage of a robust long-term reauthorization. PIA strongly supports the House
Financial Services Committee-passed legislation and will continue to advocate
for its passage in the House and Senate."
Cadillac Tax Repeal
"PIA National notched a major victory in the funding package on a health care
issue on which we've been lobbying for years: the repeal of the ‘Cadillac tax,'
a 40 percent excise tax on certain employer health plans. Enacted as a part of
the Affordable Care Act, the Cadillac Tax has never been implemented, due in
large part to advocacy by PIA members who have led multiple successful efforts
to delay it, most recently until 2022. The tax would apply to employer health
plans and tax policies with limits that exceed the annual thresholds of $11,100
for individual coverage and $29,750 for family coverage. Over time, more and
more employer-sponsored health plans will be affected, because the benefit
thresholds will increase at a rate slower than that of inflation.
"The repeal of the Cadillac tax has long been a priority for PIA National,
and we championed the legislation that passed the House this summer to repeal
the tax. Its inclusion in the funding package is a major victory for PIA National
and for employer-sponsored health plans."
FEMA to Renew Reinsurance for NFIP
The Federal Emergency Management Agency (FEMA) has started its procurement
process for the renewal of a
reinsurance program designed to protect against
flood risks in the United States that are insured by the National Flood Insurance
Program (NFIP). FEMA returned to the traditional market for its NFIP reinsurance
program for the fifth year running, having first obtained flood reinsurance
coverage for the NFIP to the tune of $1 million in 2016.
In 2017 came a larger placement, with FEMA securing $1.024 billion of flood
reinsurance for the NFIP, which was followed in 2018 by a bigger, restructured
renewal, of $1.46 billion. In 2019, FEMA announced a slightly smaller NFIP
reinsurance program of $1.32 billion. The smaller amount is related to FEMA's
procurement of an additional $500 million of capital markets-backed reinsurance
protection secured in the previous year by FEMA, through the issuance of
FloodSmart Re Ltd., the world's first pure U.S. flood risk catastrophe bond.
One More Time: Annual LDI Health,
Property & Casualty
and Fraud Conference
Crowne Plaza Baton Rouge
March 4 and 5, 2020
We're excited to announce that the Louisiana Department of Insurance will be
returning to the Crowne Plaza Baton Rouge Hotel
to host its first ever
combined event — LDI Health, Property & Casualty and Fraud
Conference on March 4 and 5, 2020!
With a day and a half agenda filled with expert speakers and nearly two dozen
breakout sessions, this will be a fantastic opportunity to network and learn
more about the current landscape of our health care system and the future of
the insurance industry — including the rising health care costs on a federal
and national level. We will also explore emerging innovations in the property
and casualty insurance industry and take an in-depth look at ongoing efforts
to combat insurance fraud.
The registration fee is $125 for individuals and businesses; and $50 for
government employees. The fee will cover a light morning snack, plated lunch
and an afternoon snack on Wednesday, as well as breakfast on Thursday.
Approximately nine hours of Life, Health & Accident and
Property & Casualty
continuing education credit hours will be offered for active, licensed
insurance producers, as well as adjusters, who attend the conference. We also
plan to obtain approval to offer continuing legal education credits this year.
More information will be provided as soon as we finalize our agenda. The
conference will begin at 8:30 a.m. and end at 4:30 p.m. on Wednesday; and
again from 8:30 a.m. to 12:00 noon on Thursday.
A conference agenda, registration form and information for securing reservations
at the Crowne Plaza Baton Rouge Hotel, will be emailed to you by early
Exhibitor spaces will be available for a fee of $500, which includes registration
for two individuals to staff the booth and attend the full conference program,
including breaks and lunch. Please contact Julie Freeman at
We anticipate an attendance of approximately 600 individuals and hope that you
can join us in making this a successful event. Please contact Crystal Stutes at
(225) 342-4311 or Julie Freeman at (225) 219-4772 with any questions. You may
also email the Department at