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1 min read

NAIFA Members Get Together With California Lawmakers

By NAIFA on 10/15/21 4:38 PM

NAIFA-CA members, including National President Tom Michel, LACP, and Past President John Davidson, LUTCF, FSS, attended a meeting earlier this week with California state and federal lawmakers. During the event, NAIFA members were able to connect with several state officials.

Topics: State Advocacy Federal Advocacy
1 min read

NAIFA Supports Employee Voter Registration Week

By Kim Durcho on 9/9/21 4:11 PM

NAIFA has signed on as an official partner for Employee Voter Registration Week, which will take place from September 27 to October 1. During this week, NAIFA along with other companies and trade associations will be active on social media encouraging stakeholders and employees across the country to get registered to vote in the upcoming elections.

Topics: State Advocacy Federal Advocacy
3 min read

NAIFA-Dallas Hosts Legislative Luncheon

By NAIFA on 8/31/21 2:04 PM

NAIFA’s Dallas chapter recently held its annual legislative luncheon. During the event, NAIFA members met with federal and state legislators and their staff and shared key NAIFA advocacy messages. NAIFA-TX lobbyist Elizabeth Hadley and NAIFA’s national Government Relations Director Mike Hedge joined the event and gave a legislative update via Zoom.

Topics: State Advocacy
1 min read

Connecticut Is the 16th State to Adopt the NAIC's Best Interest Model

By NAIFA on 8/18/21 4:46 PM

Connecticut has become the 16th state to adopt consumer-protection regulations or legislation based on the National Association of Insurance Commissioners’ (NAIC’s) Suitability in Annuity Transactions Model. The NAIC model requires financial professionals to work in the best interests of their clients during annuities transactions and aligns with the federal Securities and Exchange Commission’s Regulation Best Interest. It also preserves the ability of consumers to work with agents and advisors offering a variety of successful business models and avoids restrictions that would likely make it impossible for financial professionals to work with Main Street investors and retirement savers.

Topics: Annuities State Advocacy Interstate Advocacy
3 min read

The State of NAIFA Advocacy: 2021 Q2 Recap

By Mark Briscoe on 8/4/21 9:59 AM

NAIFA Senior Vice President for Government Relations Diane Boyle reported that NAIFA’s virtual Congressional Conference in late May, held completely online, had a substantial impact. Nearly 1,350 registered participants representing every state participated in advocacy training, received policy briefings, and held 100 virtual meetings with Senators or members of their office staff.

Topics: State Advocacy Interstate Advocacy Federal Advocacy
1 min read

NAIFA-CT Secures Unlimited Protection From Creditors for the Cash Value of Life Insurance

By Julie Harrison on 7/29/21 9:06 AM

Over the last two years, NAIFA-CT worked diligently with state legislators supporting legislation to provide Connecticut residents unlimited protection from creditors of the cash value of life insurance. The bill ran unopposed through a public hearing in June. It then passed the House and Senate and on July 12, and Gov. Ned Lamont signed it into law.

Topics: Life Insurance State Advocacy
1 min read

Three More States Enact Consumer-Protection Rules Based on the NAIC’s Annuity Transactions Model

By NAIFA on 6/29/21 2:52 PM

Alabama, Maine, and Virginia have joined 12 other states in adopting consumer-protection regulations or legislation based on the National Association of Insurance Commissioners’ (NAIC’s) Suitability in Annuity Transactions Model. The NAIC model requires financial professionals to work in the best interests of their clients during annuities transactions and aligns with the federal Securities and Exchange Commission’s Regulation Best Interest. It also preserves the ability of consumers to work with agents and advisors offering a variety of successful business models and avoids restrictions that would likely make it impossible for financial professionals to work with Main Street investors and retirement savers.

Topics: Annuities Legislative & Regulatory State Advocacy Interstate Advocacy
2 min read

NAIFA-LA Secures Financial Professional Exemption in State Independent Contractor Law

By Julie Harrison on 6/22/21 8:56 AM

Louisiana Gov. John Bel Edwards recently signed a NAIFA-supported misclassification of workers bill into law. The bill, SB 244, outlines a 12-point definition for “independent contractor” developed by the Louisiana Association of Business and Industry which classifies an independent contractor as anyone who can meet seven of the 12 points. According to the new law, independent contractors could include workers who can’t set their hours, are not allowed to work for other businesses, and are directly managed or supervised by the contracting party.

Topics: State Advocacy
4 min read

NAIFA-CO Shows Advocacy Influence Throughout an Intense Legislative Session

By NAIFA on 6/18/21 3:46 PM

The First Regular Session of Colorado’s 73rd General Assembly ended Tuesday, June 8, 2021. The legislature introduced 627 pieces of legislation and 80% of those introduced bills passed and will be up for action by the Governor.

NAIFA-CO was very busy this session beginning with hosting a virtual Lobby Day for legislators featuring Securities Commissioner Tung Chang and the Division of Insurance, Deputy Director Kate Harris. NAIFA-CO finished out the legislative session testifying and advocating on numerous bills. In total, NAIFA monitored and actively worked on 24 pieces of legislation.

Topics: Tax State Advocacy
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

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