Big “I” Legislative Team Sets Agenda

The second session of the 113th Congress promises another packed legislative agenda with issues top of mind for the independent agency system.

Terrorism risk insurance promises to be a top issue in 2014, since current authorization of the TRIA program is due to expire at the end of the year. Most observers believe the program will be reauthorized in some form, likely with a series of reforms to reduce any perceived government exposure. The Big “I” will continue advocating for reauthorization of the TRIA program to ensure the availability and affordability of terrorism insurance for commercial clients.

The implementation of Biggert-Waters will continue to be a hot-button issue. The Big “I” is working with Congress to ensure that the National Flood Insurance Program (NFIP) not only is affordable for policyholders, but also stays on a path toward financial security. In -particular, the Big “I” is aggressively lobbying to delay the phase-out of the “grandfathered” process called for by Biggert-Waters.

Heath care reform remains in the spotlight for agents as both health insurance consumers and health benefits advisors. The Affordable Care Act continues to make headlines as the implementation of the law has created turmoil in the insurance markets across the country. The Big “I” has been hard at work on solutions that will address agent-specific issues through the regulatory and legislative process at the federal and state level.

The Big “I” continues to be on the forefront of advocacy for the Federal Crop Insurance Program (FCIP). As Farm Bill negotiations continue, the Big “I” has focused on lobbying Congress against any additional cuts to the FCIP if a new Farm Bill passes.

Additionally, the Big “I” will continue working with Congress and the appropriate federal agencies to ensure proper implementation of Dodd-Frank Wall Street Reform Act provisions that impact insurance. The Federal Insurance Office recently released its long-awaited report on modernizing insurance regulation. While it did not directly call for day-to-day federal regulation of insurance, the Big “I” is concerned with certain recommendations in the report.

NARAB II saw tremendous progress in 2013—including House passage and unanimous Senate Committee approval. The Big “I” is hopeful that between the 24 bipartisan senators who are cosponsors of the bill and the overwhelming House passage, pressure will lead to Senate consideration in 2014.

Margarita Tapia is Big “I” director of public affairs.