NAIFA-WI joined 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.
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NAIFA-WI Objects to Proposed Layers of Data Privacy Regulations
By Julie Harrison on 3/1/21 2:42 PM
Topics: State Advocacy Wisconsin Grassroots Privacy Data Security
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Worker Classification Under Scrutiny
By NAIFA Government Relations Team on 2/25/21 12:41 PM
The U.S. House of Representatives is currently considering introduction of the Protecting the Right to Organize Act (PRO Act) along mostly party lines, likely in April 2021. This wide-reaching bill seeks to reform current labor law in a variety of areas. Impacting the insurance industry, the bill amends the National Labor Relations Act (29 U.S.C. 152(3)) by adding language that expands the definition of “independent contractor” by adopting an “ABC” test to define who is an “employee.”
Topics: Federal Advocacy Congress Insurance & Financial Advisor Regulation Producer Employment
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NAIFA-FL Holds a Virtual Legislative Day
By NAIFA on 2/24/21 9:33 AM
NAIFA-Florida’s Virtual Legislative Day on the Hill was February 23. Approximately 80 participants joined the event and received legislative and regulatory updates as well as advocacy training from NAIFA-FL President Craig Duncan and state lobbyist Tim Meenan of Meenan P.A. Other speakers included Florida Insurance Commissioner David Altmaier.
Topics: Legislation & Regulations State Advocacy Grassroots Florida
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The White House Issues Guidance on the Latest Round of PPP Funding
By NAIFA on 2/22/21 10:31 AM
The White House has released a fact sheet clarifying some aspects of the latest round of Paycheck Protection Program (PPP) funding that opened a month ago. The PPP provides loans to small businesses, including NAIFA members and their clients, impacted by the COVID-19 pandemic. The low-interest loans may be forgiven if the businesses that receive them meet certain conditions.
Topics: COVID-19 Federal Advocacy
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DOL Confirms PTE on Retirement Advice Will Go Into Effect Feb. 15
By NAIFA on 2/12/21 4:50 PM
The Biden Administration has confirmed that the Department of Labor (DOL) will move forward with a prohibited transaction exemption (PTE) for financial professionals who provide retirement plan advice. DOL previously announced the new PTE on December 15 during the Trump Administration. It goes into effect February 15.
Topics: Standard of Care & Consumer Protection Federal Advocacy DOL Insurance & Financial Advisor Regulation
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Special Enrollment Period for Marketplace Coverage Begins Feb. 15
By NAIFA Government Relations Team on 2/12/21 3:19 PM
On Friday, February 12, the Center for Medicare and Medicaid Services (CMS) announced that, in accordance with an Executive Order signed by President Biden, a Special Enrollment Period for the Health Insurance Marketplace will be available in the 36 states using the HealthCare.gov platform. The SEP will be available from Monday, February 15, through Saturday, May 15 for most states.
Topics: Health Care Federal Advocacy CMS
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NAIFA-WA Urges LTC Bill Changes to Protect Employees With Private Coverage
By NAIFA on 2/12/21 2:45 PM
NAIFA-WA is urging changes to a long-term services bill, HB 1323, to protect employees who have purchased long-term care coverage.
Topics: Long-Term Care State Advocacy Washington
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NAIFA-Idaho Testifies at Hearing on Annuity Best Interest Legislation
By NAIFA on 2/11/21 6:14 PM
NAIFA-Idaho member EmmaLee Robinson testified before a hearing of the Idaho Legislature on the Annuity Consumer Protections Act (HB 79) and encouraged lawmakers to adopt legislation based on the National Association of Insurance Commissioners’ updated Suitability in Annuity Transactions Model. The NAIC model requires financial professionals to work in the best interests of consumers on annuity transactions.
Topics: State Advocacy Standard of Care & Consumer Protection Grassroots Annuity Best Interest Idaho Insurance & Financial Advisor Regulation
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Ohio Finalizes Annuities Best Interest Rule Based on the NAIC Model
By NAIFA on 2/10/21 5:05 PM
The Ohio Department of Insurance has finalized a rule based on the National Association of Insurance Commissioners’ updated Suitability in Annuity Transactions Model that requires financial professionals to work in the best interests of consumers on annuity transactions. The new rule goes into effect in Ohio on Feb. 14.
Topics: State Advocacy Standard of Care & Consumer Protection Grassroots Annuity Best Interest Insurance & Financial Advisor Regulation Ohio
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NAIFA Urges Oklahoma Senate to Reject State-run Retirement Plan
By NAIFA on 2/9/21 3:15 PM
NAIFA strongly supports efforts to encourage and incentivize workers’ participation in employer-provided retirement plans available on the private market. Private-sector plans offered by employers provide many design features that help workers plan for secure retirements. A qualified financial professional, such as a NAIFA member, can help workers with individual retirement-planning solutions and assist employers in establishing workplace plans.