From Your IIABA National Director

The Power of the Big I on Display

Each year, Big I puts together a national event to help connect independent agents across the country with their elected officials in Washington, D.C. This event gives us a "behind the scenes" look at the work being done in our nation's capital as well as the issues that could impact our industry. Now you can mark your calendars for the 2021 Big I Virtual Legislative Conference, set to be held April 13-16 from 2:00 pm ET each day. While we had hoped to have an in-person meeting and once again visit our elected officials, but holding this FREE event virtually allows all of our members to attend safely and efficiently.

Key Legislation for Our Industry

Get informed on legislation that our Association is carefully keeping an eye on nationally. Charles Symington, Big I Senior Vice President for Industry & Government Affairs, recently provided a summary of pending legislation and the Big I’s position on each:

The Main Street Tax Certainty Act The Big I supports H. R. 1381/s. 480 which would make the 20% small business deduction permanent. Your Association opposes any attempt to increase taxes on small businesses, raise individual/corporate rates, boost the capital gains rate or increase the social security payroll tax cap.

Prohibit Auto Ins. Discrimination (PAID) Act As one of the staunchest defenders of the statebased regulatory system, the Big I opposes unwarranted legislative or regulatory attempts to interfere in each state’s ability to regulate their respective markets, therefore The Big I opposes H. R. 270.

NFIP Reauthorization With the National Flood Insurance Program (NFIP) currently scheduled to expire at the end of September learn more about your Associations support of a long-term reauthorization of a modernized NFIP that would increase takeup rates. The Big I supports allowing consumers that leave NFIP for the private market could return later with no penalty. They oppose any policies that would harm Write-Your-Own programs including WYO reimbursement reductions.

Protecting the Right to Organize (PRO) Act H.R 842 could have an impact on the independent agency system. This legislation could result in the reclassification for some Independent agents from Independent contractors to employees. Big I support an exemption registry for individuals registered with the SEC or selfregulators organization.

Medicare X-Choice Act Hear more about S.386. 180 million Americans depend on an employer-sponsored health care system. This bill could hurt that system which would create a public option.

Pandemic Risk Legislation One big topic interesting to all of us will be the Pandemic Risk proposals that will over losses from future pandemics and the Big I believes that there is a role for the insurance market to play but any proposal must work for both the policy holder and insurance communities and must have significant federal financial support.

Marijuana & Cannabis Business Marijuana is still illegal on the Federal level. Learn about the Big I’s support of legislation that creates a safe harbor for agents and brokers who choose to do business with the cannabis related legitimate businesses. Any legislation would need to protect Big I members from criminal and civil authority.

The Big I Brand

With all the work our National Association is doing in Government Relations and marketing, maybe now is the time for Insurors of Tennessee to join the Big I band wagon. 12 States already use the Big I name. Six states are in the process and two other states are reviewing the license agreements. Should we start using Big I Tennessee as our DBA? Be sure to let your State Association know your position on this topic and be sure to log in on April 13-16 to the Big I Virtual Legislative Conference. This is your chance to be involved. u

“Get informed on legislation that our Association is carefully keeping an eye on nationally."

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