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1 min read

New Missouri Law Allows CE for Agent Association Membership

By NAIFA Missouri on 6/10/21 10:45 AM

Legislation signed recently by Governor Mike Parsons "allows an insurance producer to receive up to four hours of continuing education credit per biennial reporting period for participation as an individual member or employee of a business entity producer member of a local, regional, state, or national professional insurance association with approval by the Director of the Department of Commerce and Insurance."

NAIFA-MO worked on securing the adoption of the bill (HB 604) for several years.

“Our State Government Relations Committee found a good sponsor in Rep. Kurtis Gregory, and we are very proud of this accomplishment for NAIFA members,” said Ed Anderson, NAIFA-MO’s National Committeeperson.

Over the past several years, many NAIFA state chapters have been advocating for legislation to allow financial advisors to receive CE credit for their membership and active participation in a professional agent association. Due to NAIFA’s advocacy, at least 11 states allow advisors to be eligible for CE credit for their association membership: Arkansas, Georgia, Louisiana, Missouri, Nebraska, North Carolina, Ohio, Oklahoma, Texas, Utah, and West Virginia. Depending on the state and the approval of the respective state insurance commissioner, advisors may receive from one to six CE credit hours for this purpose.

As NAIFA has argued in state legislatures and before the National Association of Insurance Commissioners, professional insurance associations promote high standards of ethical conduct and provide educational programs and professional development opportunities to association members. NAIFA believes advisors who are active members of an agent association should be eligible for continuing education credit for such membership.

“We believe that permitting advisors to receive CE credit for association membership both encourages advisors to become members of nationally recognized professional insurance associations and benefits consumers by ensuring them access to better qualified advisors,” said Anderson.

Topics: Continuing Ed Legislative & Regulatory State Advocacy
1 min read

Cybersecurity Bill Passes Wisconsin Senate With NAIFA Amendment

By NAIFA-Wisconsin on 6/9/21 4:50 PM

New data security standards for the insurance industry passed the Wisconsin State Senate on June 9, 2021, on a voice vote. 

Topics: State Advocacy Cybersecurity
2 min read

New Texas Law Enhances Protections for Annuity Consumers

By NAIFA on 6/8/21 10:33 AM

Legislation signed recently by Governor Greg Abbott enhances protections for Texas consumers seeking lifetime income through annuities. Championed by House Insurance Committee Chairman Dr. Tom Oliverson and Senate Business & Commerce Chairman Kelly Hancock, the new law enhances the standards financial professionals must follow while preserving consumers’ ability to access the tools they need for a secure retirement.

Topics: State Advocacy Interstate Advocacy Press Release
4 min read

NAIFA State Advocacy Roundup

By Julie Harrison on 5/24/21 4:17 PM

NAIFA's state-level advocacy work is second-to-none, with state chapters and members providing expertise and influence to shape legislation and regulations impacting NAIFA members' businesses and clients across the country.

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

Texas Legislature Passes NAIC Model for Annuity Transactions

By NAIFA on 5/20/21 4:17 PM

NAIFA-Texas has been hard at work ensuring that the Texas legislature adopts the National Association of Insurance Commissioners (NAIC) model for a “Best Interest” standard for annuity products this legislative session. Partnering with Texas Association of Life and Health Insurers (TAHLI), we have met with multiple offices and other stakeholders to ensure clarity and support from those within the Texas Capitol. State Rep. Tom Oliverson, M.D. (R-Cypress), chair of the Texas House Insurance Committee is the bill's author.

On March 23, 2021, Jason Talley, NAIFA-Texas Past President, represented NAIFA-Texas by testifying in support of HB 1777 before the Texas House Insurance Committee. This bill passed unanimously out of committee and passed in the Texas House 144-1. Once it reached the Texas Senate, it was referred to the Senate Committee on Business & Commerce. Due to a time constraint before the first bill filing deadline of the session in early March, there was no Senate companion bill nor a Senate author. NAIFA-Texas and TALHI were able to get Chairman Kelly Hancock (R-Fort Worth) to carry this bill in his own committee. On May 13, 2021, this bill was heard in a formal hearing where NAIFA-Texas submitted written testimony in support. There was no opposition.

Topics: Annuities Legislative & Regulatory State Advocacy
1 min read

State Advocacy in Action: NAIFA-OR Legislative Event a Success

By NAIFA on 5/13/21 2:42 PM

NAIFA’s Oregon chapter has not missed a beat when it comes to fulfilling its political advocacy mission. NAIFA-OR’s most recent legislative update was a 100% virtual event attended by approximately 20% of NAIFA members in the state. It also attracted the attention of policymakers. State Rep. Christine Drazan (R-Canby) was among those who participated in the event.

Topics: State Advocacy
1 min read

NAIFA-NC Holds Virtual Advocacy Day

By NAIFA on 4/27/21 4:53 PM

NAIFA’s North Carolina chapter (NAIFA-NC) held a virtual Advocacy Day, Monday, April 26. Insurance and financial professionals who attended benefited from an update on state legislative and regulatory activity by NAIFA-NC lobbyists Michelle Frazier and David Ferrell.

Topics: State Advocacy
1 min read

NAIFA State Advocacy in Action: Montana Rate-Setting Law Signed

By NAIFA on 4/22/21 8:42 AM

Montana Governor Greg Gianforte has signed legislation that revises state non-discrimination laws to allow insurers to consider insured individuals’ gender and marital status when setting rates for insurance premiums. NAIFA’s Montana chapter worked with state Commissioner of Securities and Insurance Troy Downing to craft and promote the legislation. NAIFA-MT members testified on its behalf at hearings in the state. The commissioner cited research by NAIFA-MT in his press release on the legislation.

Topics: State Advocacy
1 min read

NAIFA-CA's Virtual Day on the Hill Is a Success

By NAIFA on 4/6/21 9:00 AM

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.

Topics: State Advocacy
1 min read

NAIFA-Iowa Holds Day on the Hill

By NAIFA on 3/27/21 4:42 PM

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. 

Topics: State Advocacy

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