Advocacy in action blog

Legislation signed into law today by Nebraska Governor Pete Ricketts provides citizens throughout the Cornhusker state with enhanced consumer protections when buying annuities. Strongly supported by Nebraska Director of Insurance Bruce Ramge and championed in the Nebraska Legislature by State Senator Matt Williams, the new law closely tracks the ‘best interest of consumer enhancements’ in the National Association of Insurance Commissioners (NAIC) Suitability in Annuity Transactions Model Regulation. It also aligns with the SEC’s Regulation Best Interest.

NAIFA-California held their annual Day on the Hill as a virtual event over several days in late March. Attendees received legislative and regulatory updates and heard from speakers who shared insights about building relationships with lawmakers and being an effective political advocate.

NAIFA Senior Vice President Diane Boyle and Government Relations Director Michael Hedge spend part of their week keeping insurance and financial professionals up-to-date with the latest information on the PRO Act, where it stands, and how it could impact advisors.

State advocacy is among part of NAIFA's critical mission to ensure policymakers in every state capital understand the important role of insurance and financial professionals in providing financial security and prosperity to families and small business in communities across the United States. 

NAIFA’s Congressional Congress, May 25-26, will be a virtual event featuring targeted advocacy training with briefings on legislative issues that affect members’ businesses, best practices for conducting congressional meetings, and tips for developing impactful long-term relationships with legislators.

In 2018, North Dakota Governor Doug Burgum unveiled the state’s new brand: Be Legendary.

On March 25, the Senate passed 92-7 legislation to extend the deadline for Paycheck Protection Program (PPP) loan applications to May 31. The program has issued 7.5 million loans totaling $687 billion to small businesses during the last year, according to the Small Business Administration (SBA). The bill would also allow the agency an extra month to process applications after the program closes.

Tuesday, March 23, at 11 am eastern

NAIFA Director of Government Relations Mike Hedge recently spoke with David Duford of Duford Insurance Group about the potential implications of the PRO Act for insurance and financial professionals. Hedge discusses how the PRO Act could disrupt the business relationships between producers and companies and harm the ability of agents and advisors to serve consumers. He also talks about the work NAIFA is doing to head off provisions of the PRO Act that would “revolutionize the industry for the wrong reasons.” The interview is featured on Duford’s popular YouTube channel.

Idaho Governor Brad Little has signed a NAIFA-promoted best interest bill into law. The bill, HR 79, is based on the National Association of Insurance Commissioners (NAIC) Suitability in Annuity Transaction Model Regulation.