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.
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Financial Services Committee Explores Creation of Federal Backstop Program for Pandemic Insurance
Topics: COVID-19 Congress
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Lawmakers Respond Positively to NAIFA's COVID-19 Constituent Help
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.
Topics: COVID-19 Federal Advocacy Congress
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NAIFA Urges Congress to Help Employers and Workers Cope With COVID-19 Impacts
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: COVID-19 Federal Advocacy Congress
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NAIFA Works with Congress on COVID-19 Policies to Protect Main Street USA
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).
Topics: COVID-19 Federal Advocacy Congress
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State Capitols respond to COVID-19
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 COVID-19 Congress
NAIFA Leaders Present Educational Session For Congressional Financial Security Caucus
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.”
Topics: Retirement Planning Member Spotlight Congress
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Klobuchar Raises Americans' Need For LTCI In Debate
Topics: Long-Term Care Federal Advocacy Congress Promoting Financial Security
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Congress Enacts The SECURE Act As Part Of Year-End Spending Bill
The U.S. Senate today passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 as part of the fiscal 2020 spending bill, which the House passed on Tuesday. 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.
