Zurich Advocacy Looks Forward (And Back) on the Legislative Landscape

Zurich-Blog

The beginning of a new year is always a good time to reflect on where you’ve been and where you’re going. With that in mind, the Zurich Advocacy Team is looking forward to continuing success in 2016, while also taking time to reflect on 2015.

With 2016 being a Presidential election year, few—if any—major legislative accomplishments are anticipated from Congress.

However, protecting foreign affiliated reinsurance, the long-term viability of a national crop insurance program, and pushing for a harmonized regulatory framework across regions remain priorities for Zurich Advocacy. Congress may likely begin to the lay groundwork on reauthorization of the National Flood Insurance Program, and Zurich will be actively engaged in the discussions.

At the statehouse level, Zurich Advocacy is gearing up for another active year. Priorities include:

  • Supporting legislation that allows transportation network companies to efficiently function in the marketplace with appropriate insurance protections.
  • Working with coalitions to reform the antiquated New York Scaffold Act.
  • Promoting and protecting fair tort liability regimes within the states.
  • Promoting laws and regulations that will help facilitate the growth of a robust cyber insurance market.

Looking back to 2015, the Zurich Advocacy Team led advocacy and education campaigns on a number of fronts on the federal and state levels with successful results:

  • Supported restored funding for crop insurance in a provision contained in the bipartisan supported Highway bill that became law.
  • Avoided inclusion of foreign affiliated reinsurance as a “pay for” for other Congressional priorities in any year-end legislation.
  • Supported passage of cyber legislation in the Omnibus Budget bill passed by Congress and signed by the President.
  • Supported the reauthorization of the Ex-Im Bank.
  • Defended against Congressional activity in opposition to work being done at the international level on International Capital Standards.
  • Worked to support legislation across the country that will allow transportation network companies to efficiently function in the marketplace, with appropriate insurance protections in place.

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