The Insurance Record - November 5, 2009

The

THE VOICE OF TEXAS INSURANCE RE C O R D INSURANCE

Published Since 1934 • Dallas, Texas November 5, 2009 • Vol. 75 No. 23

PIA Looses Rather Muted Huzzahs—

Flood Insurance extension Too Short

Short-Term, Stop-Gap Renewals of NFIP Undermine Real Estate Markets, Consumer Confidence

WASHINGTON—The National Association of Profes-

sional Insurance Agents (PIA) praised the extension through

Dec. 18 of the authorization for the National Flood Insur-

ance Program (NFIP), while expressing disappointment

with the short duration of the extension.

Congress approved an extension of the NFIP on Oct. 30 as part of a continuing resolution to temporarily maintain current spending. The resolution was approved by the House and Senate as part of an appropriations bill for the Department of the Interior, and signed by President Obama when the previous continuing resolution expired to keep the federal government operating.

Band-Aids and Russian Roulette “These stop-gap, short term extensions to the NFIP are due to the fact that a comprehensive reform measure is still awaiting action, but has been crowded out of the Congressional calendar by more pressing matters,” said PIA National Director of Federal Affairs Mike Becker.

“Many mortgage lenders require flood insurance before real estate closings can occur,” Becker said. “When Congress creates this air of uncertainty, it triggers additional legal obligations concerning notice to consumers and current NFIP policyholders about the pending lapse. Congress needs to continued on page 4

health Coverage Carries
Permission to Splat

In This Issue

Division of Workers’ Compensation enforcement Actions for August 3

AUSTIN—A recent TDI bulletin (see below) underscores a loophole in the biker mandatory helmet use fiat.

PIA Advocates Consistency on Preemptions in h.R. 2609

Jim Dickenson Leads IIATC

“The purpose of this bulletin is to encourage carriers to assist their insureds and enrollees in showing proof of health insurance coverage as contemplated by the Transportation Code §661.003.”

Companies Should Put Their Focus on Agents, Not Gadgets

NAIC: State Safeguards Key to Regulatory Reform

“The Texas Transportation Code §661.003 makes it an offense for a person to operate or ride as a passenger on a motorcycle on a public street or highway without wearing protective headgear that meets safety standards adopted by the Texas continued on page 18

Some State-Run Property Ins.

Plans have Money Woes

Insurers May Not Be Planning Ahead

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