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1 min read

Sen. Grassley and Commissioner Ommen Speak at NAIFA-Iowa Conference

By NAIFA on Sep 24, 2020 4:47:51 PM

NAIFA-Iowa recently held a successful combined in-person/virtual state conference, Sept. 9-11 in Cedar Falls. The program highlighted each point of NAIFA’s membership promise – Advocate, Educate, Differentiate – but the focus turned squarely to advocacy during the Thursday keynote presentation by state Insurance Commissioner Doug Ommen and the Friday Newell C. Day Awards Breakfast keynote address by Sen. Chuck Grassley.

Topics: Advocacy State Advocacy
2 min read

NJ Joins List of States Offering Remote Licensing Exams for Insurance Producers

By NAIFA on Sep 21, 2020 2:20:16 PM

The New Jersey Department of Banking and Insurance announced on September 11 that individuals who want to take the insurance producer examination may do so remotely, even after the public health crisis ends.

Topics: State Advocacy
1 min read

Financial Transaction Tax Introduced in New Jersey

By NAIFA on Sep 21, 2020 11:55:35 AM

The insurance industry in New Jersey faced a scare in mid-September when Senate President Steve Sweeney introduced S-2902, which would impose a tax on high-quantity processors of financial transactions at $0.0025 per transaction. The bill defines "high-quantity" as processors of 10,000 or more financial transactions through electronic infrastructure located in New Jersey during the year. There was speculation the funding mechanism would be attached to the state budget. Fortunately, the state budget was approved, and the transaction tax was not included.

Topics: Tax State Advocacy
2 min read

Voter Registration Deadlines and Early Voting are Coming

By NAIFA Government Relations Team on Sep 15, 2020 9:00:00 AM

November is just two months away and with it comes two things: First, the relief that of knowing that 2020 is moving into the rearview mirror. The second, and perhaps most important, is Election Day and the checklist of things we have to do before we can cast our ballots.  

1 min read

NAIFA-CA Helps Alleviate Industry Concerns with HIV Modernization Bill

By NAIFA on Sep 4, 2020 12:05:00 PM

The California State Legislature recently passed a bill to prohibit life and disability income insurance providers from denying coverage to HIV-positive individuals. The bill, initially introduced as SB 961 by Sen. Lena Gonzales (D), was initially concerning to NAIFA. Together with the Association of California Life & Health Insurance Companies (ACLHICI) and the American Council of Life Insurers (ACLI), NAIFA worked with Gonzales to amend the bill to give insurers more underwriting flexibility, while still prohibiting them from declining applicants based solely upon an HIV test.

Topics: Life Insurance Disability Income Insurance State Advocacy
1 min read

Industry Groups Testify at Hearing on DOL Proposal

By NAIFA on Sep 3, 2020 6:11:36 PM

Bradford Campbell, a partner with the law firm Faegre, Drinker, Biddle & Reath, testified today on behalf of NAIFA and several other industry organizations at the U.S. Department of Labor’s Administrative Hearing on the Proposed Class Exemption Regulation “Improving Investment Advice for Workers & Retirees.”

Topics: Advocacy Legislative & Regulatory Standard of Care
3 min read

NAIFA Webinar:  COVID-19 Executive Actions in August

By NAIFA on Aug 28, 2020 10:39:57 AM

View the Webinar On-Demand

Topics: Advocacy Tax COVID-19
2 min read

New Maryland Commissioner Looks to Work  with Industry on Annuity Suitability Revisions

By NAIFA on Aug 26, 2020 3:37:46 PM

Maryland’s new Insurance Commissioner, Kathleen Birrane, had an opportunity to introduce herself to the state’s insurance agents and financial advisers on August 25 during a townhall webinar with NAIFA-MD, the Maryland Association of Health Underwriters and Maryland Insurance Agents and Brokers.

Topics: Legislative & Regulatory State Advocacy
1 min read

New DOL Rule Provides Important Guidance on How to Illustrate Monthly Lifetime Income

By NAIFA on Aug 19, 2020 4:44:56 PM

The Department of Labor’s (DOL’s) Employee Benefits Security Administration (EBSA) issued an interim final rule providing the important information employers need to comply with the new requirement that they give retirement plan participants annual illustrations of the monthly lifetime income they would receive from their retirement plan account balances.

Topics: Advocacy Retirement Planning Retirement Press Release
1 min read

NAIFA Members Invited to Signing of Agent Commission Bill in Georgia

By NAIFA on Aug 17, 2020 1:50:08 PM

NAIFA-GA members were invited to attend Gov. Brian Kemp’s signing of a law requiring health insurance carriers to file commissions rates they offer producers as part of their filings with the state. The law (HB 716) also gives the state Insurance Commission the power to enforce commission rates. The law will help insurance producers impacted by the Medical Loss Ratio provisions of the Affordable Care Act, which has resulted in many carriers reducing or eliminating health insurance agents’ commissions.

Topics: State Advocacy Georgia Medical Loss Ratio
1 min read

The SEC’s CAT Database Brings Data Security Concerns

By NAIFA on Aug 13, 2020 1:28:06 PM

The Securities and Exchange Commission (SEC) in June began requiring broker-dealers to submit detailed information on securities trades to the SEC’s Consolidated Audit Trail (CAT) database. A similar requirement for options trades went into effect in July. The purpose of the CAT is to allow SEC regulators to identify and analyze irregularities and threats to the securities markets.

Topics: Advocacy Security Press Release Cybercrime SEC
1 min read

Federal LTC Task Force Includes NAIFA Recommendations in Report

By NAIFA on Aug 11, 2020 12:02:47 PM

The U.S. Treasury Department has released a report from the Federal Interagency Task Force on Long-Term Care Insurance recommending government actions to foster innovation in long-term care (LTC) product design, improve the efficiency and relevance of LTC product regulation and promote financial literacy on LTC matters.

Topics: Advocacy Long Term Care Limited & Extended Care Planning Center
2 min read

NAIFA Sees DOL Proposal as a Step in the Right Direction, But Offers Improvements

By NAIFA on Aug 11, 2020 10:29:05 AM

NAIFA President Cammie Scott submitted a comment letter on behalf of NAIFA that generally supports the Department of Labor’s proposed class exemption for investment advice fiduciaries under ERISA and the Internal Revenue Code and makes several suggestions to improve the proposal.

Topics: Retirement Planning Legislative & Regulatory Standard of Care
1 min read

ALI Survey Finds Growing Concern Among Workers Planning for Retirement

By NAIFA on Jul 29, 2020 1:26:23 PM

A new survey by the Alliance for Lifetime Income (ALI) finds that 70% of older working Americans with at least $100,000 in assets are more pessimistic about their retirement plans because of the COVID-19 pandemic. One-in-five of these workers, or approximately 3.2 million Americans, now plans to retire later than they had anticipated. ALI notes that the number would likely be much higher had the survey also included older workers with less than $100,000 in assets.

Topics: Annuities Retirement Planning Legislative & Regulatory COVID-19
5 min read

Pandemic, PPP and Policy

By NAIFA on Jul 24, 2020 4:52:31 PM

This special NAIFA webinar provided Paycheck Protection Program updates and information on COVID-19 amendments to the Family Medica Leave Act that insurance and financial professionals need to know. NAIFA members may view the webinar on-demand. If you are not a NAIFA member, please join.

Topics: Legislative & Regulatory COVID-19
1 min read

IRS Provides Flexibility on RMD Rollovers for 2020

By NAIFA on Jul 24, 2020 4:43:03 PM

The CARES Act, signed into law in late March, waives the 2020 required minimum distribution (RMD) for IRAs and defined contribution plans, like 401(k)s and 403(b)s. This provides owners of these products flexibility and prevents them from having to draw down their plans while facing COVID-19-related market volatility.

Topics: COVID-19 Retirement Plans
2 min read

Expert Panel to Provide New Insights on the Paycheck Protection Program to NAIFA Members

By NAIFA on Jul 17, 2020 3:58:47 PM

The federal Paycheck Protection Program (PPP) has provided more than $517 billion in COVID-19 relief loans to nearly 5 million employers across the United States. Nearly 170,000 loans have gone to companies in the finance and insurance sector, while many more have gone to small businesses served by NAIFA members and other financial professionals. As of July 7, more than $130 billion remained in PPP funding, according to the Small Business Administration.

Topics: Legislative & Regulatory COVID-19
1 min read

SEC Warns of Increase in Cybercrimes Targeting Financial Professionals

By NAIFA on Jul 14, 2020 11:23:24 AM

The Securities and Exchange Commission has issued a Risk Alert warning about an increase in cybercrimes targeting financial professionals and institutions. The document, issued by the SEC’s Office of Compliance Inspections and Examinations (OCIE), says scammers have targeted “broker-dealers, investment advisers, and investment companies” and others in the financial services industry with phishing and ransomware attacks.

Topics: Avoiding Scams Cybercrime SEC
2 min read

NAIFA’s Carsrud Briefs WIFS Members on Advocacy Issues

By NAIFA on Jul 9, 2020 1:51:01 PM

NAIFA Assistant Vice President of Government Relations Judi Carsrud provided members of Women in Insurance and Financial Services (WIFS) in Central Pennsylvania a briefing on the SECURE Act and the Security and Exchange Commission’s Regulation Best Interest (Reg BI) in a virtual meeting on Thursday.

Topics: Advocacy Retirement Legislative & Regulatory Standard of Care
1 min read

DOL Proposes New Rule to Replace Fiduciary Rule NAIFA Helped Defeat

By NAIFA on Jun 30, 2020 10:26:24 AM

The U.S. Department of Labor has proposed a new rule to govern the standard of care for producers providing consumers with retirement guidance and products. NAIFA was a part of the lawsuit, along with the American Council of Life Insurers and other groups, that resulted in the DOL’s original fiduciary rule being struck down by the Fifth Circuit Court of Appeals in 2018. The new proposal would create a “best interest” prohibited transaction exemption (PTE) for ERISA- and Internal Revenue Code-covered investment advice fiduciaries.

Topics: Advocacy Retirement Planning Standard of Care Press Release
1 min read

Federal Appeals Court Rejects Challenge to Reg BI

By NAIFA on Jun 29, 2020 10:45:20 AM

In an opinion published last Friday, the Second Circuit Court of Appeals upheld the validity of the SEC’s Regulation Best Interest and rejected the challenge to the rule which had been filed last fall by a group of state attorneys general and several private financial firms. The court did not agree with the plaintiffs’ claim that the Dodd Frank Act required the SEC, if it chose to act, to adopt a standard of conduct for broker-dealers that paralleled the fiduciary standard applicable to investment advisers under the Investment Advisers Act.

Topics: Standard of Care Reg BI
1 min read

NAIFA Georgia’s Health Insurance Agent Commission Bill Sails Through the Senate

By NAIFA on Jun 29, 2020 8:57:04 AM

NAIFA-Georgia is celebrating a win. HB 716 (Insurance; carriers issuing a health benefit plan in this state through an agent shall file proposed commission rates with the department) passed the Senate unanimously on June 26. 

Topics: Health Care State Advocacy Georgia Medical Loss Ratio
1 min read

NAIFA Backs Ohio’s Suitability in Annuity Trans-actions Proposal Albeit Minor Edits

By Julie Harrison on Jun 23, 2020 5:41:30 PM

Ohio’s Department of Insurance recently proposed updates to its “3901-6-13 Suitability Annuity Transactions” rule.  The state’s Director of Insurance, Jillian Froment, chaired the National Association of Insurance Commissioner’s Annuity Suitability Working Group while the working group crafted revisions to the NAIC’s “Suitability In Annuity Transactions Model Regulation (#275).”  As expected, the Ohio proposal is similar to the model. It establishes a new standard of conduct that goes beyond the rule’s current suitability standard, but it is not a fiduciary standard. 

Topics: NAIC Model Regulation
3 min read

The State of NAIFA Town Hall: Advocacy Update

By NAIFA on Jun 19, 2020 3:01:44 PM

NAIFA Senior Vice President of Government Relations Diane Boyle provided an advocacy update during NAIFA’s Town Hall, “The State of NAIFA on Our 130th Anniversary.”

Topics: Advocacy
1 min read

SEC Chair Urges Caution Recommending Retirement Account Rollovers, Withdrawals

By NAIFA on Jun 18, 2020 9:07:19 AM

SEC Chairman Jay Clayton issued a statement June 15 reminding financial firms and advisors of the new, enhanced conduct standards found in Regulation Best Interest. Reg BI requires broker-dealers and their representatives to act in the best interest of their clients when making recommendations, and to not put the firm’s or representatives’s financial interests ahead of the consumer’s.

Topics: Retirement 401(k) Standard of Care Reg BI
1 min read

SBA and Treasury Announce New EZ and Revised Full Forgiveness Applications for the Paycheck Protection Program

By NAIFA on Jun 17, 2020 5:27:02 PM

On June 17, the U.S. Small Business Administration, in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020.  In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application that applies to borrowers that:

Topics: Legislative & Regulatory COVID-19
1 min read

NAIFA Urges Congress to Bolster Retirement Savers in Next Phase of COVID-19 Legislation

By NAIFA on Jun 17, 2020 2:45:39 PM

NAIFA’s advocacy team and grassroots army have been engaged from the beginning of conronavirus-related shutdowns with Congress, state legislatures, and federal and state regulators on proposals to provide economic relief and recovery assistance to individuals, families, and small businesses. We provided input to Congress as they shaped the first three phases of COVID-19 legislation, including the Paycheck Protection Program.

Topics: Advocacy Retirement Legislative & Regulatory COVID-19
2 min read

State of NAIFA Virtual Event to Celebrate 130 Years of Association Excellence

By NAIFA on Jun 17, 2020 12:54:47 PM

NAIFA will celebrate its 130th anniversary Thursday, June 19, with an online Town Hall meeting “The State of NAIFA on Our 130th Anniversary Celebration.”

Topics: NAIFA Events NAIFA CEO Press Release
1 min read

NAIFA-CO Sees Big Win on Proposal to Expand Annuity Taxes

By NAIFA on Jun 16, 2020 11:24:14 AM

When Colorado legislators on June 8 introduced changes to the state’s tax laws that would impact insurance companies, consumers, and retirement savers, NAIFA’s state advocacy team sprang to action. The original version of the “Adjust Tax Expenditures For State Education Fund Act” (HB20-1420) would have expanded the state’s tax on some insurance premiums to include a broader range of annuity products. It also would have removed a credit applied to existing premium taxes for insurance companies that maintain home offices in Colorado.

Topics: Annuities Retirement Tax State Advocacy Colorado
1 min read

NAIFA Supports Legislation to Boost Registered Index-Linked Annuities

By NAIFA on Jun 11, 2020 1:02:34 PM

Registered index-linked annuity (RILA) products offer a good option for some consumers who want to benefit from market growth while reducing their exposure to market losses. These are long-term, tax-deferred investments that are often well-suited for investors who are preparing for retirement, especially those who are retired or are nearing retirement and wish to reduce the impact of market downturns.

Topics: Advocacy Annuities Legislative & Regulatory
1 min read

NAIFA-WI Pushes Back on Potential Layering of Data Privacy Regulations

By NAIFA on Jun 11, 2020 12:10:48 PM

NAIFA-WI teamed up with other trade associations representing the insurance and financial services industry to push back on a potential regulatory proposal that would complicate existing data privacy and security laws. 

Topics: Legislative & Regulatory State Advocacy Wisconsin
1 min read

NAIFA Sees Small Victory in Colorado Secure Choice Plan

By NAIFA on Jun 10, 2020 5:48:57 PM

Colorado’s Implementation of Colorado Secure Savings Program bill, SB 200, is on a trajectory to pass. NAIFA, along with the American Council of Life Insurers, Insured Retirement Institute, and National Federation of Independent Business, worked diligently to counter the measure. There was limited time for debate. Also, the proposal is an initiative of the House Speaker. These factors make it all but impossible to defeat.

Topics: State-Run Retirement State Advocacy
1 min read

Arizona Annuity Sales Standards Bill Signed Into Law

By Julie Harrison on Jun 9, 2020 2:55:02 PM

Arizona Governor Doug Ducey signed into law SB 1557 on Friday June 5, 2020. The measure will amend the state’s requirements governing annuity recommendations and sales by requiring producers and insurers to act in the best interest of annuity purchasers and to not put their own financial interests ahead of the consumers’ interest. These revisions track amendments made earlier this year by the National Association of Insurance Commissioners to the NAIC Suitability in Annuity Transactions Model Regulation, which aligns well with the SEC’s Regulation Best Interest and will raise the standard of care required of financial professionals while preserving consumers’ access to valuable financial advice, services and products.

Topics: Annuities
1 min read

NAIFA Stands for Financial Security

By Suzanne Carawan on Jun 8, 2020 5:42:48 PM

Last week NAIFA issued a joint statement with industry association partners to denounce racial injustice. NAIFA has always advocated for financial security for all and the responses we received to our statement were overwhelmingly positive. Our active pursuit of racial equality does not support violence or any activity that works against financial security—including looting, marring our national monuments and destroying private property. We are further saddened by the damage done through rioting and in no way condone these activities as a method of protest.

Topics: #MainStreetUSA
1 min read

NAIFA Praises Legislation to Provide Flexibility on COVID-19 PPP Loans

By NAIFA on Jun 4, 2020 4:11:01 PM

The U.S. Senate has passed the Paycheck Protection Program Flexibility Act that would increase the program’s loan period for borrowers seeking forgiveness from eight weeks to six months. The legislation would also expand the ability of small businesses to use PPP funds to pay rent, mortgages, utilities, and other essential business costs. The bill keeps the obligations requiring recipients seeking loan forgiveness to avoid layoffs and provide worker protections. The House of Representatives had previously passed the bill, and the president is expected to sign it into law.

Topics: Advocacy Legislative & Regulatory COVID-19
1 min read

Sen. Scott Offers Thoughts on the Next Round of COVID-19 Legislation

By NAIFA on Jun 3, 2020 3:09:08 PM

Sen. Tim Scott (R-SC) had some interesting things to say on the Politico "Morning Money" program about the economic recovery and the potential for future COVID-19 legislation. As a former financial professional and NAIFA member in the days before he entered politics, Scott shows a strong understanding of the issues important to agents and advisors and their Main Street clients.

Topics: Legislative & Regulatory COVID-19
1 min read

Life Insurance Community Denounces Racial Injustice

By NAIFA on Jun 2, 2020 10:32:53 AM

The life insurance community grieves with the nation over the racial injustice, brutality and bigotry that took the life of George Floyd and the lives of so many others. Too often, the justice system has failed, bringing devastating consequences such as destroyed hope, fear and division. 

1 min read

NAIFA’s Harrison Named to the NIPR Board of Directors

By NAIFA on May 28, 2020 7:51:13 PM

Julie Harrison, NAIFA's Director of State Chapter Government Relations, has been named to the National Insurance Producer Registry (NIPR) Board of Directors.

Topics: Interstate Advocacy Press Release
2 min read

Politico Notes NAIFA Advocacy in Action Day Participants

By NAIFA on May 21, 2020 6:24:57 PM

Politico, the influential political publication, noted some of the prominent contributors to NAIFA Advocacy in Action Day in its "Influence" column: Reps. Tom Reed (R-N.Y.), Tom Suozzi (D-N.Y.), Patrick McHenry (R-N.C.), Jackie Walorski (R-Ind.), Tom Emmer (R-Minn.), Judy Chu (D-Calif.), Barry Loudermilk (R-Ga.), Jim Himes (D-Conn.), David Schweikert (R-Ariz.), Bryan Steil (R-Wis.), Roger Williams (R-Texas), Adrian Smith (R-Neb.), Phil Roe (R-Tenn.), Alex Mooney (R-W.Va.), Trey Hollingsworth (R-Ind.) and Mark Walker (R-N.C.); Susan Neely and Joyce Meyer of the American Council of Life Insurers; Julie Herwig of New York Life; and Laura Haines of Guardian Life.

Topics: Advocacy
1 min read

NAIFA's Mayeux Commends DOL on Rule Allowing E-Delivery of Retirement Plan Documents

By NAIFA on May 21, 2020 11:51:50 AM

The U.S Department of Labor has finalized a rule permitting electronic delivery of required retirement plan disclosures and documents to plan participants.

Topics: Advocacy Retirement Planning
1 min read

Advocacy in Action Day: Meeting the Moment in Response to COVID-19

By NAIFA on May 21, 2020 9:57:03 AM

Susan Neely, president and CEO of the American Council of Life Insurers, provided an inspiring and laudatory message to attendees of NAIFA’s Advocacy in Action Day. She spoke of how the life insurance and financial services industry and agents and advisors are “meeting the moment” during the COVID-19 crisis.

Topics: Advocacy COVID-19
3 min read

Advocacy in Action Day: The Problem Solvers Caucus

By NAIFA on May 20, 2020 5:32:22 PM

Reps. Tom Reed (R – NY) and Tom Souzzi (D – NY) share a strong appreciation for the insurance and financial services industry and the importance of the products and services that agents and advisors provide. The y spoke about their work and the Problem Solvers Caucus during NAIFA’s Advocacy in Action Day.

Topics: Advocacy
3 min read

Advocacy in Action Day: "Lobbying From the Living Room: Adapting Advocacy Efforts to COVID-19"

By NAIFA on May 20, 2020 5:24:40 PM

Moderator: Diane Boyle

Topics: Advocacy
3 min read

Advocacy in Action Day: “Growing Grassroots: Why Relationships Matter”

By NAIFA on May 20, 2020 5:14:28 PM

Tracy Jones – Moderator

Topics: Advocacy
3 min read

SBA Releases PPP Loan Forgiveness Application and Instructions

By NAIFA on May 17, 2020 3:52:10 PM

On May 15, the SBA released a standardized PPP loan forgiveness application with instructions.  The SBA still intends to publish additional rules and guidance on the program’s forgiveness provisions, but highlights from the release – and answers to a few outstanding questions – include:

Topics: COVID-19
1 min read

Iowa Enacts Best Interest Standard for Annuity Transactions

By NAIFA on May 12, 2020 2:27:01 PM

On May 11 Iowa insurance regulators adopted revisions to the state’s regulations on annuity recommendations and sales to require producers and insurers to act in the best interests of annuity purchasers. Under the revised rules, producers must not put their own financial interests ahead of consumers’ interests. These revisions track amendments made earlier this year by the National Association of Insurance Commissioners (NAIC) to the NAIC Suitability in Annuity Transactions Model Regulation, which aligns well with the SEC’s Regulation Best Interest and will raise the standard of care required of financial professionals while preserving consumers’ access to valuable financial advice, services, and products.

Topics: Annuities State Advocacy Interstate Advocacy
1 min read

NAIFA to Host Online CEO Panel

By NAIFA on May 7, 2020 4:33:28 PM

NAIFA’s Online CEO Panel
Tuesday, May 12 at 1 PM EDT
Free to all financial professionals

NAIFA is bringing together CEOs from the insurance and financial services industry’s top associations to discuss our collaborative efforts during the COVlD-19 crisis to address financial security on Main Street USA. NAIFA CEO Kevin Mayeux will moderate a panel consisting of:

Topics: industry news NAIFA CEO COVID-19
1 min read

D.C. Council Removes Business Interruption Insurance Measure from Omnibus Bill

By NAIFA on May 6, 2020 10:26:44 AM

All eyes were on the Washington, D.C., Council on Tuesday morning. Included in its “Coronavirus Omnibus Emergency Amendment Act of 2020” was a proposal to essentially rewrite business income insurance policies and require the industry to pay for losses that were not covered. The Council ultimately agreed to withdraw the language before passing the omnibus bill. The business interruption insurance measure could have threatened the financial solvency of the District's insurance industry, so having it removed was a major win for insurers.

Topics: State Advocacy COVID-19
1 min read

NAIFA Advocates for  IRI's Retirement Plan Proposals

By NAIFA on May 6, 2020 8:59:08 AM

NAIFA along with five other organizations has sent a letter to Congress asking legislators to support the Insured Retirement Institute’s (IRI) five-point plan to help retirement savers recover from losses caused by the COVID-19 outbreak. NAIFA has worked with IRI to promote the plan and garner support in Congress.

Topics: Advocacy Retirement
1 min read

Department of Labor Releases Information on COBRA Implementation

By NAIFA on May 6, 2020 8:24:11 AM

Recent estimates suggest that the COVID-19 pandemic has cost more than 9 million Americans employer-provided health insurance, with projections indicating that those numbers will continue to rise. These individuals are generally granted the option to elect continued health coverage through the Consolidated Omnibus Budget Reconciliation Act (COBRA).

Topics: Health Care
1 min read

Do Financial Professionals Need to Disclose COVID-19 Relief Loans to Clients?

By NAIFA on May 4, 2020 8:39:28 AM

One part of the COVID 19 federal relief package known as the CARES Act is the Paycheck Protection Program (PPP), which allows individuals and small businesses to obtain loans for the purpose of paying their employees during the crisis. Repayment of these loans may be forgiven if certain terms are met. If a securities firm obtains a PPP loan, must that fact be disclosed/reported to the firm’s clients?

Topics: Advocacy
2 min read

SEC Clarifies Rules on Use of the Term "Advisor"

By NAIFA on May 3, 2020 9:14:50 PM

In recently updated Frequently Asked Questions (FAQs) on its new Regulation Best Interest (Reg BI), the SEC offered some clarification on when it would be permissible for broker-dealers and their registered representatives to use the terms “advisor” and/or “adviser” as part of their name or title once Reg BI goes into effect on June 30, 2020.  The SEC, in Reg BI, did not specifically prohibit the use of these terms by broker-dealers and their reps, and the FAQs indicate that a broker-dealer can use these terms when acting as a municipal advisor, a commodity trading advisor or “in a role specifically defined by federal statute”.

Topics: Advocacy
1 min read

NAIFA Urges Fast Track for Proposed  Electronic Delivery of Retirement Documents

By NAIFA on May 1, 2020 2:42:40 PM

NAIFA supports a rule proposed by the Department of Labor that would expand the ability of retirement plan sponsors to provide participants with required disclosures and notices electronically. In a letter to Russ Vought, acting director of the Office of Management and Budget, NAIFA and partner organizations urge the administration to finalize the rule as quickly as possible.

Topics: Advocacy Retirement Planning
1 min read

Bills Would Put Insurers on the Hook for Uncovered Business Interruption Losses

By NAIFA on Apr 29, 2020 8:59:21 AM

As governments look to offset financial business losses resulting from COVID-19, some state legislatures have explored further exploiting the insurance industry by introducing bills addressing business interruption coverage. Business interruption coverage typically applies only to losses resulting from physical damage to property, such as that caused by a natural disaster, and generally inapplicable to losses caused by viral or bacterial pandemics.

Topics: State Advocacy COVID-19
1 min read

Congressional Action Needed to Ensure Access to Health Plans

By NAIFA on Apr 28, 2020 12:46:17 PM

NAIFA has joined a group of organizations asking Congress to ensure that 180 million Americans who receive health care coverage through workplace plans are able to continue receiving private health benefits in light of economic difficulties and job losses caused by the COVID-19 outbreak. The groups, including America’s Health Insurance Plans, the National African American Insurance Association, the U.S. Chamber of Commerce, and 28 others, sent a letter to congressional leadership with five specific policy recommendations:

Topics: Advocacy COVID-19
1 min read

NAIC Adopts Enhanced Standard of Care for Annuities

By NAIFA on Apr 27, 2020 5:12:44 PM

The NAIC recently adopted amendments to its Suitability in Annuity Transactions Model Regulation, which regulates producer and insurer recommendations for all annuities. The revised NAIC Model requires producers and insurers to act in the best interest of annuity purchasers and to not put their own financial interests ahead of the consumers’ interest. The amended Model, which aligns well with the SEC’s Regulation Best Interest, will raise the standard of care required of financial professionals while preserving consumers’ access to valuable financial advice, services and products. NAIFA was an active participant in the development of these revisions and supports the amended Model regulation. The adoption by the states of these amendments is a top advocacy priority for NAIFA.

Topics: Interstate Advocacy
2 min read

NAIFA Advocates Health, Retirement, and Life Insurance Proposals for Next Round of COVID-19 Legislation

By NAIFA on Apr 24, 2020 4:01:39 PM

The latest federal COVID-19 relief package, signed into law today, provides $484 billion in funding, including $310 billion for the Paycheck Protection Program, $50 billion for Economic Injury Disaster Loans, $75 billion for hospitals, and $25 billion for expanded COVID-19 testing.

1 min read

Mayeux Highlights NAIFA's Small Business Ties in COVID-19 Relief Comment

By NAIFA on Apr 23, 2020 5:30:57 PM

NAIFA CEO Kevin Mayeux issued the following statement on congressional passage of the latest $484 billion COVID-19 relief legislation.

Topics: Press Release

IRS Webinar to Answer COVID-19 Tax Questions

By NAIFA on Apr 22, 2020 4:31:19 PM

An Internal Revenue Service (IRS) webinar tomorrow will provide a forum for taxpayers to ask IRS officials questions about relief payments due to taxpayers under the CARES Act and other COVID-19-related tax matters. The webinar is open to everyone and will be of particular interest to small business owners, individuals, veterans, and Social Security recipients.

Topics: small business Tax
2 min read

NAIFA Family Response Fund to Help NAIFA Members With COVID-19 Expenses

By NAIFA on Apr 16, 2020 5:34:04 PM

NAIFA has announced the creation of the NAIFA Family Response Fund to help NAIFA members with expenses related to the COVID-19 outbreak. The fund will benefit NAIFA members and their legal dependents who face financial hardship due to unexpected out-of-pocket medical or funeral expenses related to the COVID-19 outbreak.

Topics: Press Release
2 min read

The IRS and Social Security Administration Report Increased Fraud Related to COVID-19

By NAIFA on Apr 14, 2020 9:53:25 AM

The U.S. Treasury Department reports that nearly 16,000 American have been taken in by scams involving criminals falsely claiming to be employees of the Internal Revenue Service (IRS). The scams have resulted in losses of more than $80 million.

1 min read

New York Issues Emergency Regulations Requiring Insurer and Producer Notifications to Clients

By Gary Sanders on Apr 9, 2020 11:45:46 AM

The New York State Department of Financial Services (DFS) recently issued emergency regulations describing the notifications that insurers and agents must provide to their policyholders regarding the flexibility being given regarding premium payments, policy lapse and renewal and other topics. The new regulations—11 NYCRR 229.5(b) and 3 NYCRR 405.6(b)(4).

>View the Regulations

Topics: State Advocacy COVID-19
5 min read

COVID-19: Changing how we live, work… and vote

By NAIFA Government Relations Team on Apr 7, 2020 5:10:00 PM

On Sunday, March 29th, President Donald Trump extended his coronavirus guidelines for America, announcing 30 Days to Slow the Spread, effectively extending the minimum time for most Americans to remain at home until April 30th.

Topics: COVID-19

COVID-19 Impacts Life Insurance Applications

By NAIFA on Apr 6, 2020 12:35:08 PM

Some reinsurers and primary insurance companies have announced that they will temporarily stop accepting applications for some life insurance policies. The COVID-19 outbreak has injected a new level of uncertainty into the marketplace and made it difficult for insurers to complete underwriting tasks, such as medical exams. Low interest rates are also having an impact on carriers’ business models.

8 min read

NAIFA State Advocacy Amidst COVID-19: A Glimpse into the Unknown

By Julie Harrison on Apr 3, 2020 6:08:49 PM

NAIFA State Advocacy Amidst COVID-19: A Glimpse into the Unknown

Topics: State Advocacy COVID-19
2 min read

Which Small Business Loan is Best for Your Clients?

By NAIFA Government Relations Team on Apr 1, 2020 6:16:40 PM

The trinity of Congressional COVID-19 relief packages acknowledge the importance of small businesses to our economy. The new laws contain numerous provisions to support employers and their workers including small business loans.

Topics: industry news loan Financial Wellness COVID-19
1 min read

NAIFA Urges States to Temporarily Ease Insurance Licensing Requirements

By NAIFA on Apr 1, 2020 2:00:11 PM

NAIFA CEO Kevin Mayeux, along with several industry colleagues, has sent a letter to every state insurance licensing authority requesting temporary licensing accommodations for producers who cannot complete regular licensing requirements because of the COVID-19 outbreak.

Topics: Press Release
1 min read

NAIFA-Supported Provisions Included in Landmark Coronavirus-Relief Legislation

By NAIFA on Mar 27, 2020 3:54:08 PM

Measures on small business loans, payroll taxes, and retirement accounts to provide relief to financial professionals and their clients.

Congress has passed the CARES Act, a $2 trillion economic stimulus and relief package designed to bolster Americans and the U.S. economy currently racked by the COVID-19 outbreak. The bill now goes to the White House, where President Trump is expected to sign it.

“NAIFA has advocated for measures to help small business owners and American workers weather the devastating financial impact of the COVID-19 pandemic, and we are pleased to see many of the provisions we promoted included in the CARES Act,” said NAIFA CEO Kevin Mayeux. “Small business loans to cover short-term payroll and other expenses, which could be forgiven at a future date; payroll tax exemptions; and relief from retirement-account withdrawal requirements and early withdrawal penalties have been at the top of NAIFA’s advocacy agenda and will be crucial to many NAIFA members and their Main Street USA clients. We are very pleased to see these provisions included in the final bill.”

Topics: Press Release
1 min read

NAIFA and Industry Partners Urge Congress to Support SECURE Notarization Act

By NAIFA Government Relations Team on Mar 27, 2020 2:41:21 PM

On March 26, NAIFA joined industry partners in a letter to Congressional leadership urging support for the inclusion of the Securing and Enabling Commerce Using Remote and Electronic Notarization Act (SECURE Notarization Act), in the legislative package from Congress intended to address the economic fallout from COVID-19. The bipartisan legislation (S. 5355, H.R. 6364) was introduced by Sens. Cramer (R-ND) and Warner (D-VA), and Reps. Reschenthaler (R-PA) and Dean (D-PA).

1 min read

SEC Considering Delaying Reg BI Implementation

By NAIFA Government Relations Team on Mar 26, 2020 2:56:01 PM

In light of the disruptions to normal business operations brought about by efforts to curtail the spread of the Coronavirus, the U.S. Securities and Exchange Commission (SEC) is considering a possible delay in the June 30, 2020 implementation/effective date for compliance with the Commission’s new Regulation Best Interest, which establishes a heightened “best interest” standard of care for broker-dealers and their registered representatives. (In a related matter, the SEC has changed the deadline for BD firms to file their Forms ADV from March 30, 2020 to June 30, 2020.) Although no final decision has been made, the topic has been discussed by SEC leadership. NAIFA has submitted a letter to the SEC requesting a reasonable delay in the Reg BI implementation/effective date, which you can review here.

1 min read

Provide Your Clients with Concise Information on New Paid Leave Requirements

By NAIFA Government Relations Team on Mar 25, 2020 5:37:11 PM

This concise chart provides employers with an easy-to-read summary of the new emergency paid leave requirements signed into law as part of H.R. 6201 by President Trump on March 18, 2020. Additional employer guidance from the Department of Labor can be found in a Fact Sheet for Employers and a Questions and Answers document.

2 min read

DOL Explains Paid Sick Leave and Expanded FMLA Under the Families First Coronavirus Response Act and Seeks Your Input

By NAIFA Government Relations Team on Mar 24, 2020 6:35:00 PM

On March 24, the U.S. Department of Labor’s Wage and Hour Division (WHD) announced its first round of published guidance to provide information to employees and employers about how each will be able to take advantage of the protections and relief offered by the Families First Coronavirus Response Act (FFCRA) when it takes effect on April 1, 2020.

State Securities Regulators Up and Running

By NAIFA on Mar 24, 2020 8:56:25 AM

State securities regulators have taken responsible safety measures in light of the Coronavirus, but are providing necessary services for their registrants and consumers. Recognizing the disruptions and dislocations caused by the COVID--19 outbreak, many state securities departments are making appropriate accommodations and are providing helpful relief from regular registration, filing, and other requirements for registrants who meet certain criteria.

1 min read

Financial Services Committee Explores Creation of Federal Backstop Program for Pandemic Insurance

By NAIFA on Mar 24, 2020 7:45:00 AM

House Financial Services Committee Chairwoman Maxine Waters (D-CA) is considering potential legislation which would create a Pandemic Risk Insurance Program similar to that of the program created by the Terrorism Risk Insurance Act (TRIA). Chairwoman Waters’s proposal would be to create a temporary program that would provide a federal backstop for pandemic risk. This model would be very similar to the federal backstop that exists for terrorism risk through TRIA, but would deal with the Coronavirus pandemic instead.

Topics: COVID-19
1 min read

Through 10 Years, the ACA Has Undergone Many Changes

By NAIFA on Mar 23, 2020 5:23:36 PM

On the ten-year anniversary of the Patient Protection and Affordable Care Act (ACA) being signed into law, NAIFA looks back at the milestones of health care policy and how the ACA has changed over the last decade. Implementation of the ACA and the tenants included in this monumental health care program have proven to be fluid throughout the existence of the program.

1 min read

NAIFA Members Designated Essential Critical Infrastructure Workers

By NAIFA on Mar 23, 2020 4:15:55 PM

As many industries transition to alternative working arrangements in response to the COVID-19 outbreak, certain sectors and functions essential to the nation’s public health, safety, and community well-being must continue to operate. The U.S. Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) recently released an advisory initial list of “Essential Critical Infrastructure Workers.”

Topics: COVID-19 Press Release
1 min read

NAIFA Supports Government Officials by informing consumers

By Suzanne Carawan on Mar 23, 2020 3:31:01 PM

Kevin Mayeux's statement to government officials that NAIFA stands with you. We are here to be a resource to you and help serve as a first line of support to consumers who are calling you with concerns during this challenging time. We are adding new resources every day to our recently launched consumer site at www.financialsecurity.org where credible information can be accessed along with a directory of our members that all ascribe to a Code of Ethics including the promise to put clients' best interests first.

2 min read

Lawmakers Respond Positively to NAIFA's COVID-19 Constituent Help

By NAIFA on Mar 20, 2020 4:59:52 PM

The National Association of Insurance and Financial Advisors (NAIFA) has a long history of working with lawmakers on the state and federal levels. Recent outreach to Congressional offices, state insurance commissioners, and state legislators offering assistance to lawmakers with constituents’ financial concerns has resulted in sincere appreciation.

2 min read

NAIFA Urges Congress to Help Employers and Workers Cope With COVID-19 Impacts

By NAIFA on Mar 20, 2020 10:26:09 AM

 

The COVID-19 outbreak is disrupting the lives of families and the operations of businesses across the country. The impact on the economy and financial implications for Americans will certainly be substantial. At times like this, NAIFA’s advocacy influence and role as the voice of insurance and financial professionals is more important than ever. We are working on behalf of our members, the entire agent-advisor community, and Main Street USA consumers to help Congress find ways to lessen the impact of the outbreak.

Topics: Press Release
1 min read

NAIFA Works with Congress on COVID-19 Policies to Protect Main Street USA

By NAIFA Government Relations Team on Mar 19, 2020 9:26:56 AM

While the volatile stock market remains a concern, there is a recognition that the most acute impact of COVID-19 is being felt on Main Streets around the country. NAIFA continues our work with lawmakers on crisis-related proposals to ensure the interests of NAIFA members and their Main Street clients are considered. Lawmakers are moving quickly on policies to address the coronavirus pandemic. Congress has enacted two legislative packages, and a third legislative response is underway (also see State Capitols Respond to COVID-19).

1 min read

Working with Quorum, NAIFA Begins Tracking COVID-19 Legislation

By NAIFA Government Relations Team on Mar 18, 2020 4:45:00 PM

NAIFA is excited to announce that it will be utilizing the public affairs software, Quorum, which will enable NAIFA to track legislative and regulatory action in all 50 states and territories.

1 min read

State Capitols respond to COVID-19

By NAIFA Government Relations Team on Mar 17, 2020 4:30:00 PM

In light of the recent coronavirus (COVID-19) outbreak during the peak of states' legislative sessions, some state capitols have made the difficult decision to shutdown and many others are considering following suit. As a result of these closures, and because legislatures will most likely be prioritizing health and economic issues resulting from COVID-19 upon reconvening, many bills important to NAIFA members are likely to fall by the wayside.

Topics: State Advocacy
1 min read

NAIFA Asks Administration to Include Associations in Government Coronavirus-Relief Policies

By NAIFA on Mar 13, 2020 1:50:03 PM

NAIFA CEO Kevin Mayeux has written Larry Kudlow, director of the National Economic Council, asking the administration to include tax-exempt associations in any policies designed to provide businesses relief from impacts of the CONVID-19 outbreak.

Topics: Press Release
1 min read

NAIFA-Arizona's State Advocacy Day Is Picture Perfect

By NAIFA on Mar 10, 2020 3:23:38 PM

NAIFA-Arizona held a successful state advocacy day in Phoenix earlier this year, with approximately 40 insurance and financial professions in attendance. They hosted legislators and Capitol Hill staffers at a luncheon and met individually with their elected officials.

1 min read

NAIFA Statement on Coronavirus

By Suzanne Carawan on Mar 6, 2020 5:09:14 PM

Nation’s Association for Insurance & Financial Professionals Urges Close Monitoring of Clients & Community Situations

The National Association of Insurance and Financial Advisors, long-charged with protecting the financial security of main street Americans, has issued a statement on the outbreak of novel coronavirus (2019-nCoV).

NAIFA is a participating member of the Interagency Crisis Action Task Force organized under the FEMA National Business Emergency Operations Center (NBEOC) that is led by the US Department of Health and Human Services (HHS). Following a conference call yesterday, NAIFA urges its members to closely monitor the Coronavirus situation in the local area and be at the ready to provide service to clients.

Topics: Press Release
1 min read

State Advocacy: NAIFA Promotes Iowa and Arizona Annuity Sales Standards

By Mark on Mar 5, 2020 9:54:25 AM

Iowa and Arizona are the first states to introduce measures that would implement a model standard of care for annuity sales developed by the National Association of Insurance Commissioners (NAIC). NAIFA chapters in both states successfully advocated for the NAIC model.

Topics: State Advocacy Standard of Care Interstate Advocacy
1 min read

State Advocacy Impact! NAIFA Helps Reshape Massachusetts Fiduciary Proposal

By NAIFA on Mar 2, 2020 8:39:33 AM

A funny thing happened on the way to the final version of the Massachusetts Securities Division’s fiduciary rule for broker dealers and their registered representatives. NAIFA’s grassroots army made their presence known and helped to reshape what could have been a disastrous regulation for insurance and financial professionals and the Main Street consumers who rely on them for products, services, and guidance.

Topics: Annuities State Advocacy Standard of Care
1 min read

NAIFA Chapters Lobby for Suggested Revisions to NAIC Cybersecurity Model Law

By NAIFA Government Relations Team on Feb 27, 2020 12:00:00 PM

In 2017, the National Association of Insurance Commissioners adopted a Data Security Model Law and states have been quick to respond. So far, South Carolina has been the only state to adopt the actual model with no modifications –which isn’t too surprising considering South Carolina’s Insurance Director, Ray Farmer, led the Cybersecurity Working Group at the NAIC.

Topics: Security
1 min read

NAIFA Member to the Seattle Times: State-Run Retirement Plan Is a Bad Idea

By NAIFA on Feb 25, 2020 11:06:27 AM

Legislation now before the Washington Legislature in Olympia that would create a state-run retirement plan “misses the mark,” writes Ryan Jewell, a member of the Board of Trustees with NAIFA’s Washington Chapter, in a letter to the editors of the Seattle Times.

Topics: State-Run Retirement
1 min read

Massachusetts Adopts Final Fiduciary Duty Rule Financial Professionals

By NAIFA on Feb 24, 2020 9:53:10 AM

Topics: State Advocacy
1 min read

NAIFA-Iowa Takes Advocacy to the Hill in Des Moines

By NAIFA on Feb 20, 2020 1:11:22 PM

Topics: State Advocacy
1 min read

NAIFA Applauds the NAIC’s Revised Annuity Best Interest Model

By NAIFA on Feb 14, 2020 11:11:55 AM

The National Association of Insurance Commissioners has approved a newly revised Suitability in Annuity Transactions Model Regulation that would require financial professionals to act in the best interests of consumers when recommending annuity products.

3 min read

NAIFA State Advocacy Is on a Roll!

By NAIFA on Feb 7, 2020 3:03:47 PM

Topics: State-Run Retirement State Advocacy Standard of Care
1 min read

NAIFA-Maine Hosts Legislative Breakfast

By NAIFA on Feb 5, 2020 10:32:51 AM

NAIFA’s Maine chapter yesterday hosted a legislative breakfast attended by approximately 45 insurance and financial professionals. The featured speaker at the event was Eric Cioppa, superintendent of the Maine Bureau of Insurance. Cioppa gave a presentation held a questions and answers session.

Topics: State-Run Retirement State Advocacy
12 min read

NAIFA Media Roundup: January 2020

By NAIFA on Feb 3, 2020 12:30:02 PM

NAIFA was well represented in the national and trade media during January. NAIFA experts spoke on issues ranging from senior financial protection in New Jersey to a fiduciary proposal in Massachusetts.

3 min read

NAIFA ‘s 130th Anniversary Will Be Celebrated at the May 2020 Congressional Conference

By NAIFA on Jan 30, 2020 1:34:02 PM

Largest legislative event in the insurance & financial services industry celebrates 130 years of its federal and state advocacy programs.

Topics: conference
1 min read

NAIFA-New Mexico Holds Day at the Roundhouse Advocacy Event

By NAIFA on Jan 30, 2020 10:38:57 AM

Financial professionals met with lawmakers to tell how they serve Main Street consumers and discuss policy matters important to their clients.

1 min read

NAIFA-Florida Holds Day On The Hill Advocacy Event

By NAIFA on Jan 28, 2020 8:29:00 AM

NAIFA Leaders Present Educational Session For Congressional Financial Security Caucus

By NAIFA on Jan 24, 2020 10:21:00 AM

NAIFA Treasurer Brock Jolly and NAIFA-Greater Washington Advocacy Chair Matthew Grace are featured speakers at a lunch and learn to members of Congress and staff entitled: “Save, Invest & Protect: Safeguarding Your Financial Future.”

1 min read

Waiver On Initial Insurance Licensing Fees For Veterans Becomes Law In New Jersey

By NAIFA on Jan 22, 2020 10:34:00 AM

1 min read

Klobuchar Raises Americans' Need For LTCI In Debate

By NAIFA on Jan 16, 2020 2:33:00 PM

1 min read

NAIFA-New Jersey Promotes Law To Protect Seniors From Financial Exploitation

By NAIFA on Jan 16, 2020 2:23:00 PM

1 min read

Maine Proposal Would Create State-Run Retirement Plan

By NAIFA on Jan 15, 2020 2:39:00 PM

Maine’s legislature is reconsidering a bill from its 2019 session that would create a state-run retirement plan to compete with existing private-sector solutions. NAIFA believes that state-run plans, like the one proposed for Maine, fail to understand why many Americans are not saving enough for retirement.

NAIFA-Maryland Brings Financial Professionals And State Policymakers Together

By NAIFA on Jan 14, 2020 2:47:00 PM

Gov. Baker Expresses Concern About Massachusetts Fiduciary Proposal

By NAIFA on Jan 8, 2020 2:51:00 PM

2 min read

NAIFA's Mayeux To Testify On Massachusetts Fiduciary Proposal

By Mark Briscoe on Jan 6, 2020 11:32:12 PM

2 min read

Congress Enacts The SECURE Act As Part Of Year-End Spending Bill

By NAIFA Government Relations Team on Dec 19, 2019 1:54:00 PM

1 min read

NAIFA-New Jersey Promotes Law To Encourage Military Veterans In Insurance Careers

By NAIFA Government Relations Team on Dec 17, 2019 1:48:00 PM

NAIFA-New Jersey has been a driving force behind legislation in the state that would exempt U.S. military veterans from initial insurance licensing fees. The state Assembly passed the bill unanimously and it has strong momentum in the Senate.

1 min read

NAIFA Sees A Trio Of Advocacy Wins As Congress Adds SECURE Act And Repeal Of Health Care Taxes In Spending Bill

By NAIFA Government Relations Team on Dec 16, 2019 1:43:00 PM

Congressional leaders have included the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 as part of the fiscal 2020 spending bill. The SECURE Act will make it easier for small businesses to offer employee retirement plans. It will also give retirement savers greater flexibility to participate in plans and choose investment options and will encourage adequate savings amounts. The American Council of Life Insurers (ACLI) estimates that SECURE will result in 700,000 additional American workers saving for retirement.

1 min read

"Cadillac Tax" Repeal Letter Garners Support Of More Than 1,000 Stakeholders Including NAIFA

By NAIFA on Dec 6, 2019 1:26:00 PM

NAIFA  signed on to a broad stakeholder letter to repeal the “Cadillac Tax.” These signatures represent large corporations and small companies, nonprofits, labor unions, cancer and patient groups, and state/local groups who share the concern that the “Cadillac Tax” is forcing them to increase deductibles and cut health care at rates that hurt workers and their families leaving them vulnerable to untenable health care costs.

1 min read

National Advocacy Meeting Brings Together NAIFA’s Advocacy Leaders

By NAIFA Government Relations Team on Dec 2, 2019 1:14:00 PM

NAIFA Urges Governor Cuomo To Approve Important Continuing Education Credit Legislation

By NAIFA on Nov 27, 2019 1:11:00 PM

2 min read

NAIFA Supports Patients’ Timely Right To Access Medical Records

By NAIFA on Nov 26, 2019 1:07:00 PM

1 min read

NAIFA Supports Toomey Proposal On Retirement Accounts And Long-Term Care

By NAIFA on Nov 21, 2019 12:58:00 PM

2 min read

NAIFA And ACLI: LTCI Can Help Fill Coverage Gap For Alzheimer's Costs

By NAIFA on Nov 20, 2019 12:29:00 PM

NAIC And FINRA To Share Certain Information On Financial Advisors

By NAIFA on Nov 12, 2019 11:55:00 AM

The National Association of Insurance Commissioners (NAIC) and the Financial Industry Regulatory Authority (FINRA) will soon begin sharing data–including names, dates of birth, licensing statuses, and other information–on registered representatives and insurance producers. NAIC staff indicated during a NAIC Producer Licensing (D) Task Force conference call on October 25, 2019, that the NAIC and FINRA are finalizing a Memorandum of Understanding outlining the information-sharing process. 

A NAIFA comment letter to the NAIC generally supports efforts by regulators to improve communications between their respective departments, but urges regulators to refrain from making any final determinations or conclusions or taking any actions against an advisor based solely on notification by another regulator that the individual’s license is no longer active.    

2 min read

America’s Veterans Have Much To Offer Our Industry

By Kevin Mayeux on Nov 11, 2019 11:53:00 AM

2 min read

Financial Professionals From Every State Urge Congress To Pass The Secure Act

By NAIFA on Nov 7, 2019 11:47:00 AM

2 min read

NAIFA's Mayeux Signs On To CEO Letter Supporting The SECURE Act

By NAIFA on Nov 5, 2019 11:40:00 AM

1 min read

Representatives' Letter To CMS Cites Effectiveness Of Agents And Brokers In Health Insurance Enrollments

By NAIFA on Oct 23, 2019 11:38:00 AM

1 min read

Advertisement In Influential Newspaper Urges Passage Of The SECURE Act

By NAIFA on Oct 17, 2019 11:29:00 AM

2 min read

NAIFA Participation In WIFS Conference Highlights Advocacy Partnership

By NAIFA on Oct 16, 2019 11:21:00 AM

NAIFA Senior Vice President, Government Relations Diane Boyle participated in a panel discussion on current legislative and regulatory challenges during the annual conference of Women in Insurance and Financial Services (WIFS) in Louisville.

Topics: conference
4 min read

The State Of NAIFA Q3 2019 Webinar Is Online

By NAIFA on Oct 11, 2019 1:55:00 PM

NAIFA President Jill Judd, CEO Kevin Mayeux, and Senior Vice President for Government Relations Diane Boyle delivered the State of NAIFA Q3 webinar earlier this week. The recorded webinar is available online.

NAIFA President Jill Judd

Judd began the presentation by praising the efforts of NAIFA volunteers during the third quarter.

“NAIFA is bringing back the spirit of belonging and volunteering and your service has been service above self,” she said. “It’s been that type of mentality that keeps our association strong and continues to provide protection for our clients.”

She gave a recap of the message delivered at the NAIFA Performance + Purpose conference in Orlando during the third quarter about the progress NAIFA has made since it was reborn with changes to its structure and bylaws on Jan. 1, 2019.

“I promise you we are just beginning to feel the thrill that is NAIFA,” she said.

She reviewed award winners NAIFA recognized at P+P:

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NAIFA And ACLI Ramp Up State Advocacy Coordination

By NAIFA on Sep 30, 2019 10:31:00 AM

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NAIFA Offers Webinar On The SEC's Reg BI

By NAIFA Government Relations Team on Sep 19, 2019 10:17:00 AM

2 min read

The Life And Annuities Certified Professional (LACP) Accreditation Continues To Gain Corporate Support

By NAIFA Government Relations Team on Sep 13, 2019 10:13:00 AM

2 min read

NAIFA Urges Changes To New CMS Medicare Enrollment Site

By NAIFA on Sep 5, 2019 10:10:00 AM

2 min read

Industry Partnerships Advance The Community Of Insurance And Financial Services Professionals

By NAIFA on Aug 29, 2019 10:07:00 AM

2 min read

NAIFA Urges Policies To Promote Long-Term Care Insurance

By NAIFA on Aug 27, 2019 10:02:00 AM

1 min read

New Hampshire Enacts NAIFA-Supported Measure To Protect Seniors From Financial Exploitation

By NAIFA Government Relations Team on Aug 23, 2019 10:00:00 AM

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New NAIFA Advocacy Action Center Gets Financial Professionals Politically Involved

By NAIFA Government Relations Team on Aug 15, 2019 11:22:00 AM

2 min read

Industry Partnerships To Be On Display At NAIFA’s Performance + Purpose Conference

By NAIFA on Aug 13, 2019 11:16:00 AM

Attendees at NAIFA’s Performance + Purpose conference, Sept. 11-14 in Orlando, will benefit from collaborations between leading organizations in the life insurance and financial services industry. Life Happens, NAILBA, and Women in Insurance and Financial Services (WIFS) are working with NAIFA to offer a mix of inspirational, informative, and fun programming at P+P. 

Topics: conference
1 min read

NAIFA’s Mayeux Featured In NAILBA Broker In Motion Podcast

By NAIFA on Jul 31, 2019 10:53:00 AM

2 min read

Bloomberg Opinion Piece Is Way Off Base On Annuities

By NAIFA Government Relations Team on Jul 30, 2019 10:46:00 AM

1 min read

NAIFA Issues Statement On GAMA-AALU Announced Merger

By Kevin Mayeux on Jul 29, 2019 10:41:00 AM

1 min read

NAIFA-Colorado Testifies On Proposed State-Run Health Insurance Program

By NAIFA on Jul 26, 2019 10:39:00 AM

1 min read

NAIFA Participates In Federal Government LTCI Task Force Meeting

By NAIFA on Jul 25, 2019 10:37:00 AM

Mayeux Boosts SECURE Act During Capitol Hill Visit

By NAIFA on Jul 19, 2019 10:41:00 AM

NAIFA CEO Kevin Mayeux was on Capitol Hill today for discussions with industry leaders and lawmakers about the role NAIFA members play providing financial security for Main Street Americans. He and NAIFA's advocacy partners emphasized retirement planning and urged the U.S. Senate to pass the SECURE Act.

1 min read

NAIFA CEO Comments On House Vote To Repeal The Cadillac Tax

By NAIFA on Jul 18, 2019 10:30:00 AM

NAIFA CEO Kevin Mayeux issued the following statement:

2 min read

NAIFA Trustee Testifies At New Jersey Fiduciary Hearing

By NAIFA on Jul 18, 2019 10:24:00 AM

8 min read

NAIFA In The News

By NAIFA on Jul 12, 2019 10:09:00 AM

June 2019

Topics: News industry news
1 min read

NAIFA Letter To The Editor Boosts The SECURE Act

By NAIFA on Jul 5, 2019 10:00:00 AM

2 min read

NAIFA Announces Nominees For 2020 Leadership Positions

By NAIFA on Jul 2, 2019 9:54:00 AM

2 min read

NAIFA Urges Passage Of The SECURE Act

By NAIFA on Jun 26, 2019 9:59:00 AM

NAIFA Supports Legislation To Ensure Workers Maintain A 40-Hour Workweek

By NAIFA on Jun 21, 2019 3:57:00 PM

2 min read

NAIFA Comments On Senate Bill To Require More Compensation Disclosure

By NAIFA on Jun 19, 2019 3:48:00 PM

1 min read

Reg BI Enhances Consumer Protections With Uniform, Nationwide Standard

By NAIFA on Jun 5, 2019 3:43:00 PM

The Securities and Exchange Commission (SEC) today voted to finalize Regulation Best Interest (Reg BI), which significantly enhances the standard of care that broker-dealers (BDs) and their registered representatives (RRs) owe their clients. The standard contained in Reg BI exceeds the existing suitability standard by requiring BDs and their RRs to act in the best interests of their clients when recommending any securities transaction or investment strategy involving securities, without placing the interest of the BD or RR ahead of the interests of the client. In connection with Reg BI, the Commission also adopted a new client relations summary disclosure requirement known as Form CRS, and issued an interpretation of the fiduciary duty requirements that registered investment advisers must follow.

1 min read

House Votes In Favor Of The SECURE Act One Week After NAIFA Members Urge Its Passage

By NAIFA Government Relations Team on May 23, 2019 12:00:00 PM

3 min read

With LACP Accreditation, NAIFA Certification Commission Joins Elite Group Of NCCA Organizations

By NAIFA on May 22, 2019 11:56:00 AM

2 min read

NAIFA's Congressional Conference Kicks Off With Legislative Information Session

By NAIFA on May 15, 2019 11:52:00 AM

NAIFA’s Congressional Conference kicked off Tuesday with a Day-on-the-Hill meetings preparation session and legislative issues briefing. The sessions gave attendees information, insights, and tips they will use today, as nearly 600 insurance and financial advisors present a unified voice on Capitol Hill, advocating on behalf of their industry, practices, and clients in meetings with their senators and representatives.

Topics: conference
2 min read

America’s Life Insurers And Financial Advisors Promote Financial Wellness At May 15 Washington Events

By NAIFA on May 13, 2019 11:50:00 AM

1 min read

NAIFA Supports Legislation To Protect Senior Investors

By NAIFA Government Relations Team on May 2, 2019 11:46:00 AM

3 min read

NAIFA Members To Convene For Congressional Conference

By NAIFA on Apr 23, 2019 11:42:00 AM

Insurance and financial advisors to convene for advocacy briefings,meetings with lawmakers on Capitol Hill

Topics: conference
1 min read

NAIFA Discusses 'Best Interest' Standards With SEC Chair

By NAIFA on Apr 17, 2019 11:33:00 AM

1 min read

NAIFA Endorses AHIP Policy Statement On Surprise Medical Billing

By NAIFA on Apr 11, 2019 11:04:00 AM

1 min read

Webinar Features Experts In Long-Term Care Financing

By NAIFA on Apr 11, 2019 11:01:00 AM

3 min read

NAIFA, NAILBA To Partner With Initiatives To Strengthen Collaboration In Political Advocacy, Professional Development

By NAIFA on Apr 11, 2019 8:59:00 AM

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NAIFA Advocates A Principled Approach To Health Care

By NAIFA on Mar 27, 2019 10:57:00 AM

Justice Department lawyers made headlines earlier this week when they informed a federal appeals court that the Trump Administration agrees with a lower court decision that would overturn the Affordable Care Act in its entirety. The announcement has no immediate effect, but highlights the fact that the U.S. health care landscape is complicated and subject to change. Ultimately, federal courts will decide the fate of the ACA.

1 min read

NAIFA Urges Continuation Of Grandfathered Group Health Plans

By NAIFA on Mar 25, 2019 10:53:00 AM

3 min read

NAIFA Launches Center To Advance Long-Term Care

By NAIFA on Mar 25, 2019 10:48:00 AM

1 min read

NAIFA Supports Maryland LTC Task Force Policy Recommendations

By NAIFA Government Relations Team on Mar 22, 2019 10:41:00 AM

1 min read

NAIFA Statement To Congressional Committee Promotes A Strong Best Interest Standard

By NAIFA Government Relations Team on Mar 14, 2019 10:38:00 AM

1 min read

You Don’t Have To Be Wealthy To Work With An Insurance And Financial Advisor

By NAIFA on Feb 27, 2019 10:35:00 AM

NAIFA Comments To NAIC On Annuities Model Regulation

By Gary Sanders on Feb 19, 2019 10:31:00 AM

1 min read

Is Your Pass-Through Business Eligible For The New 199A Deduction? It Depends

By Judi Carsrud on Feb 12, 2019 10:29:00 AM

1 min read

The Answer To 'What If?': Have A Plan

By Diane Boyle on Feb 7, 2019 10:26:00 AM

1 min read

NAIFA To Present At CEFLI Conference

By NAIFA on Feb 4, 2019 10:22:00 AM

NAIFA will be a presenter at a meeting tomorrow of theCompliance & Ethics Forum for Life Insurers (CEFLI)Advisory Committee. CEFLI is a professional trade association of the legal and compliance staff for insurance carriers, broker-dealers, and federal and state regulators. The Advisory Committee specifically is a forum for life insurers, industry trade associations, and regulators from the SEC and FINRA to discuss trending issues that affect CEFLI members.

Topics: conference
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Dear Friends,

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