The NAIC applauds the House for passing a long-term reauthorization of the Terrorism Risk Insurance Program (TRIA) prior to next year’s expiration. State insurance regulators support this extension to ensure a sustained and stable terrorism risk insurance marketplace that provides American businesses with the essential coverage needed to successfully operate in today’s uncertain global environment. The NAIC urges Senate action on this critical reauthorization legislation.
NAIC Advances U.S. Objectives on Insurance Capital Standard Project
U.S. state insurance regulators today announced that Team USA members had secured an agreement advancing critical U.S. objectives as part of the International Association of Insurance Supervisor’s (IAIS) debate on the next phase of its Insurance Capital Standard (ICS) project. State regulator support came after the IAIS agreed to significant changes resulting in an achievable definition and approach to assessment of comparable outcomes, providing a clear path for the Aggregation Method.
Wildfires Destroyed Almost Nine Million US Acres in 2018
In 2018, wildfires destroyed 8.76 million acres of land in the United States, according to the National Interagency Fire Center. Wildfires are most common in the west where heat, drought and thunderstorms create favorable wildfire conditions. However, uncontrolled fires can and have occurred in most of the 50 states.
The Medicare Access and CHIP Reauthorization Act (MACRA) goes into effect January 1, 2020. This means newly eligible enrollees cannot buy Plans C, F or F High Deductible after January 1, 2020. Plans D, G, and G High Deductible replace Plans C, F and F High deductible. All other Medigap plans remain unchanged.
Better navigate MACRA with the following resources: