Legislative Slate Fills Up

As spring returns to the nation’s capital, members of Congress reappear, and legislation springs forth like the city’s famous cherry blossoms. And since this is an election year, the expected short duration of the session acts as a powerful fertilizer for this annual burst of legislation.

At press time, legislation reforming the National Flood Insurance Program (NFIP) appeared to be on a fast track for Congressional consideration. In the wake of Hurricanes Katrina and Rita, the NFIP has come under enormous strain, and policymakers are expected to shore up the program for the future. House Financial Services Committee Chairman Mike Oxley (R-Ohio) and Ranking Member Barney Frank (D-Mass.) are expected to move quickly on legislation as the program’s temporary borrowing authority was set to expire in mid-February. The Senate is also set to act.

Another issue expected to receive early attention is asbestos reform. A bill to set up a $140 billion liability fund for individuals harmed by asbestos exposure was set to come to the floor of the Senate for debate in February. Last year, there was a major effort to repair the badly broken asbestos litigation system, but it never came to fruition. The legislation was beset by disputes over the size of the trust fund and well-placed concerns—shared by the Big “I”—about cases possibly “leaking” back into the court system. Other pressing issues such as the Terrorism Risk Insurance Act (TRIA) ultimately sidetracked the Fairness in Asbestos Injury Resolution (FAIR) Act, which never made it to the Senate floor for a vote in 2005.

Also finding its way onto the radar screen early this year is a new focus on the estate tax, also known as the “death tax.” Talk of a compromise, in which only the largest estates would be taxed, has clashed with voices advocating for a full repeal.

Expectations abound that advocates of an “optional” federal charter (OFC) will make their move to introduce legislation in the Senate for a new federal insurance bureaucracy, which the Big “I” opposes. In the House, Oxley and Insurance Subcommittee Chairman Richard Baker (R-La.) are expected to introduce the SMART Act, targeted federal legislation that modernizes the state-based system without creating a federal regulator.

The Big “I” Government affairs team has been hard at work on all these issues, and many more, since the new session of Congress began. Although many leading members of Congress and the press publicly note the influence of the Big “I” inside the Capitol’s corridors, the Government Affairs staff always needs your involvement and help to defend and promote your businesses and livelihoods.

Cliston Brown (cliston.brown@iiaba.net) is Big “I” director of public affairs/media relations.

Make Your Voice Heard on Capitol Hill

A great opportunity to educate Congress members on the issues that matter to you is only a few weeks away. The Big “I” National Legislative Conference & Convention will take place April 26 through 28 in Washington, D.C.

The National Legislative Conference, now entering its 30th year, is the most influential legislative conference of any insurance trade association in Washington. It offers you the chance to meet your elected leaders on Capitol Hill. Almost every member of Congress knows and expects a visit from insurance agents and brokers at the end of April.

Highlights of the NLC will include an in-depth issues briefing session; the annual Big “I” congressional reception on Capitol Hill; appearances by numerous high-profile speakers discussing insurance and national issues confronting lawmakers as well as agents and brokers; and hundreds of meetings on Capitol Hill between IIABA agents and brokers and lawmakers.

Speakers at past National Legislative Conferences have included the last four sitting presidents—George W. Bush, Bill Clinton, George H.W. Bush and Ronald Reagan. The conference’s speakers list also has included the last three Speakers of the House—current Speaker Dennis Hastert (R-Ill.) and former Speakers Newt Gingrich (R-Ga.) and Tom Foley (D-Wash.).

And for the first time ever, the National Legislative Conference will be held concurrently with the Big “I” Convention, which takes place in Washington immediately upon the conclusion of the legislative event. The convention features insightful continuingeducation workshops, numerous networking events, the largest trade show in the insurance industry and a keynote speech by former Secretary of State Gen. Colin L. Powell.

To register for the event, go to www.independentagent.com .