Insurance (P&C and Life)

Section 2(b) sets premium rates for agricultural structures with variances, and Section 3 expands umbrella policy availability, increasing flood insurance coverage opportunities for insurers.

Section 2 establishes a Natural Disaster Risk Reinsurance Program that provides federal payments to participating states when insured losses exceed trigger amounts, protecting insurers from insolvency and ensuring affordability of coverage. This directly benefits property and casualty insurers by providing a backstop for catastrophic losses.

Section 2 extends the Terrorism Risk Insurance Program (TRIP) from 2027 to 2034, providing continued federal backstop for terrorism-related insurance claims, directly benefiting property/casualty insurers. Section 3 improves certification process with notice requirements and higher thresholds, increasing predictability and reducing uncertainty for insurers.

Section 2(c)(2)(A)-(D) extends the authority to enter into, issue, renew flood insurance contracts, continue coverage, pay claims, service policies, and operate the NFIP, directly benefiting private insurers participating in the program (Write-Your-Own insurers).

Section 2(a)(1)(C) references entities created by State law to ensure availability of an adequate market of last resort for essential property insurance or basic property insurance, indicating the bill supports property insurance markets by providing tax-exempt mitigation payments, which benefits insurers by reducing loss exposure.

Section 2(a) and (b) extend the National Flood Insurance Program financing and program expiration to September 30, 2026, providing a clear benefit to flood insurance providers and the insurance industry by maintaining the program's operation.

Section 2(b) exempts requesters from submitting a review or processing fee for a flood insurance rate map change based on an ecosystem restoration project, reducing costs for those seeking such changes, which benefits the insurance industry by facilitating flood insurance map updates.

Section 2(e)(4)(B) allows the Administrator to consider a community's compliance and progress in reducing flood risks when determining financial assistance under the Act, which could benefit insurers by promoting flood mitigation and reducing claims.

Section 3 establishes a working group on cyber insurance and Section 4 requires dissemination of informative resources for issuers and customers of cyber insurance, which benefits the insurance industry by improving clarity, potentially increasing market adoption, and supporting issuers in offering better coverage.

Section 2(a) permits rollovers to individual retirement annuities (as defined in section 408(b)), directly benefiting insurance companies that issue such annuity contracts.

Title VII, Section 701 applies to 'institutional investment managers' which includes insurance companies that manage large investment portfolios. The requirement to disclose proxy voting decisions and perform economic analyses increases compliance costs for insurance firms' investment arms, representing a harm (-1). However, Title X's restriction on considering non-pecuniary factors in investment advice benefits insurance companies by allowing them to prioritize pure financial returns in their i

The bill includes the Bureau of Consumer Financial Protection within the definition of 'Federal financial institutions regulatory agencies' for purposes of sections 1012-1015 (see Section 6(c)(1)(A)(B)), extending the timeliness and independent review provisions to institutions under its oversight, which includes certain insurance-related financial products and entities, thus providing a benefit to the insurance industry.

Section 2(b) applies similar amendments to savings and loan holding companies, which are often affiliated with insurance entities, streamlining acquisition approvals and benefiting related insurance operations.

Section 2 defines 'covered company' to include entities regulated under sections 225.8 or 238.170 of 12 CFR, which apply to certain bank holding companies and nonbank financial companies supervised by the Fed, potentially including insurance firms with significant banking activities, thus subjecting them to stress test rulemaking that could enhance transparency.

Section 2(a) includes the National Credit Union Administration Board as a Federal depository institution regulatory agency; credit unions are part of the broader financial services sector, and the study's focus on merger review procedures could benefit insurance-related financial institutions through improved regulatory alignment.

Section 2(b) amends Section 6303(b) of the Internal Revenue Code to take into account postponements by reason of disaster when determining the last date prescribed for payment of any tax, which may reduce the burden on insurance companies in collecting premiums or paying claims.

Section 2(a)(1) aims to streamline and consolidate information collection for disaster assistance applicants and grantees, which could reduce administrative burdens on insurance companies involved in disaster relief efforts.

Section 3(2)(B)(ii) mentions flood insurance coverage provided under the National Flood Insurance Program, which could lead to increased transparency and potentially more business for insurance companies, citing the National Flood Insurance Act of 1968 (42 U.S.C. 4001 et seq.).

The establishment of the Red Tape Hotline in Section 2 could lead to a reduction in regulatory costs for insurance companies.

Section 2(a) modifies the rules for postponing certain deadlines by reason of disaster, which may provide relief to insurance companies in affected areas, as cited in Section 7508A of the Internal Revenue Code of 1986

Section 2(b) amends the dollar limitation for personal casualty losses, which could increase insurance payouts for disaster-related claims, benefiting the insurance industry.

Section 2 amends title 38 to require periodic review of automatic maximum coverage under the Servicemembers' Group Life Insurance program and the Veterans' Group Life Insurance program, which may lead to increased coverage and thus benefit the insurance industry.

Section 2(a) provides for automatic continuing appropriations, which would maintain funding for government programs and services that insurance companies rely on, such as flood insurance and crop insurance.

Section 2(a) includes assessment of risks to global financial systems, which could affect insurers' investment portfolios and underwriting risks; the resulting report may inform protective measures benefiting the industry.

Insurance companies that engage in money transmission or are subject to Bank Secrecy Act reporting (e.g., via premium payments) would benefit from higher thresholds reducing SAR/CTR filings, though impact is less direct than banks.

Section 4(b)(2)(F) includes a representative of the property and casualty insurance industry on the NCAP Advisory Committee, giving insurers influence over safety ratings that could affect premiums and risk assessment.

Title I provides $3,000,000 for addressing human rights violations and corruption, which may benefit insurance companies through improved regulatory environment.

The requirement for a guidance clarity statement in Section 2(a) may help insurance companies by reducing ambiguity in regulatory guidance and enabling them to better navigate compliance requirements.

Section 3(c)(4) preserves rights and remedies under State or Federal law for parties affected by US sanctions, which may benefit insurance companies with international operations, as described in subsection (a).

Title I, Subtitle A, Section 1102(7) Commerce and Housing Credit (370) and Section 1102(11) Health (550) include allocations that may support insurance-related programs and risk mitigation.

Section 102 may increase demand for health insurance, potentially benefiting insurers offering Exchange plans, though P&C and life insurance less directly affected.

Section 3 terminates tariffs with respect to certain countries and jurisdictions under Executive Orders 14257 and 14326, which could increase trade and benefit insurance companies (e.g., State Farm, Allstate) that provide coverage for international shipments and trade-related activities.