When it comes to thinking about your business, what keeps you up at night?
New tax increases on your small business and customers?
As a result of the Patient Protection and Affordable Care Act and recent “fiscal cliff” deal, many small business owners are already seeing their tax bill drastically increase for 2013. With decision-makers in Washington, D.C., grappling with federal budget deficits, the sequester, the debt limit and other financial issues, small businesses are once again in the crosshairs as policymakers consider new ways to raise revenue.
The looming expiration of the Terrorism Risk Insurance Program next year?
Many business clients purchase this coverage required by lenders to protect against the risk of terror attacks. With the private market unable to underwrite this national security threat, will they go without coverage if the federal backstop is not renewed? In that case, what economic effect would result?
Further cuts to the Federal Crop Insurance Program when Congress renews the Farm Bill?
Additional cuts to the program could have dire consequences for agents and brokers who sell crop insurance and the farmers they serve.
State-by-state agent and agency licensing requirements?
Independent agents and brokers who operate in multiple states find it increasingly difficult to navigate this costly process, which makes it more difficult to serve clients. Help is on the way in the form of NARAB II, federal legislation to provide non-resident licensing reform while preserving the rights of states to supervise agents and brokers. The legislation is expected to be introduced this month with strong bipartisan support.
The National Flood Insurance Program, which was extended in 2012 until 2017 with necessary reforms but has been affected by Superstorm Sandy?
There is now talk in Congress of privatizing flood insurance. The Big “I” believes that any further reforms to the NFIP should take into consideration the 5.6-million American consumers who rely on the program for flood risk protection and the difficulty the private market historically has had with offering this coverage.
These and other important issues will be discussed April 17-19 at the 2013 Big “I” Legislative Conference, when your colleagues from across the country will convene in Washington, D.C., to protect the industry by presenting a unified voice to congressional representatives.
Shouldn’t your voice be among them? Register online for the conference, which will be held at the Grand Hyatt Washington, and check out the event schedule.