California Broker Magazine February 2020

The majority of U.S. consumers expect companies to actively stand up for social good, according to the 2019 Aflac Survey on Corporate Social Responsibility. The findings reflect a growing sentiment among consumers and investors for corporate America to do good.

Over three-quarters (77%) of consumers say they would be motivated to purchase a company’s products or services if the company shows they are committed to making the world a better place;

73% of investors (defined as adults who own individual stocks) agree that a company’s efforts to help improve society and the environment contribute positively to return on stockholder’s investments.

49% of respondents said that it is very important for a company to “make the world a better place,” while 37% said it is very important for a business to “make money for its shareholders.”

Younger (millennial) investors put significantly more effort into researching a company’s role in improving society and the environment before deciding to invest – 41% compared to Gen X (27%) or boomers (16%).

Fifty-five percent of American consumers say it’s important for companies to take a stand on social and political issues, 53% of consumers also say they have stopped using the products of a company because of its public position on some issue, and 48% of investors report they have decided to not invest in a company because of its position on some issue, with 38% having actually sold shares.

A surprisingly large majority of consumers (72%) report they are willing to “forgive” a company’s bad behavior, either unethical or illegal. Still, many Americans have grown cynical when it comes to judging corporate social behavior, claiming “zero tolerance” when it comes to infractions of ethical corporate codes. This “one strike club” includes 25% of consumers and 22% of investors. Aflac Survey Says Majority of Consumers Want Companies to ‘Take a Stand’

New Pet Insurance Law P et lovers will also love California’s new pet insurance law. Assembly Bill 1535 now requires pet insurers to disclose the contact information for the underwriting insurer, the agent or broker and the Department of Insurance to consumers that hold pet insurance policies. The new law aims to provide consumers with greater transparency and help streamline communication between pet owners and pet insurance carriers so that owners can get their claims handled appropriately. Makes sense!

Join NAHU at CapCon! #BrokersMakingADifference W hile conventional wisdom often assumes less policymaking in an election year, we think 2020 could continue the recent streak of proving conventional wisdom wrong. Whether it’s surprise billing, prescription drug pricing or the Texas v. Azar decision, or even the possibility of expanding the 21st Century Cures Act, there is a lot to talk about in D.C. this year at Capitol Conference. We expect a fierce debate over multiple healthcare issues to carry over and continue throughout 2020. Register today and join members across the country to not only learn, but to also share with the very legislators who will be voting on these and other items that affect you and your clients daily! NAHU’s CapCon is Feb 24-26. Registration and info at nahu.org. —Patricia Griffey

Patricia Griffey, NAHU president has been a licensed agent for over 40 years with more than 20 of those years as a group benefits General Agent. Today she is the owner of Page 1 Medicare, a subsidiary of Hailey-Campbell, Inc, and currently serves as the president of the National Association of Health Underwriters. Prior to becoming NAHU’s president, she held the positions of Treasurer, vice president and president-elect on NAHU’s Board of Directors.