Big ‘I’ President & CEO Highlights Tax Reform, Legal System Abuse at Industry Forum

• By: Teddie Norton Reilly
• June 19, 2025

This week, Charles Symington, Big “I” president & CEO, participated in a panel, “Public Policy and the Future of Risk,” at the 2025 Insurance Information Institute’s Joint Industry Forum in Chicago.

Symington participated in the panel along with the executives of the other major property & casualty trade associations: Neil Alldredge, president and CEO, National Association of Mutual Insurance Companies; Frank Nutter, president, Reinsurance Association of America; David Sampson, president and CEO, American Property Casualty Insurance Association; and Joel Wood, president and CEO, Council of Insurance Agents and Brokers. It was moderated by Fred Karlinsky, shareholder and global chair, Insurance Regulatory & Transactions Practice, Greenberg Traurig.

The speakers provided their perspectives on traditional and emerging risks, including the ongoing debate on insurance availability and affordability, and the rapidly shifting landscape for policymakers in Washington, D.C. and the states.

Symington commented on topics such as tax reform and its potential impact on the p&c market. The U.S. House of Representatives recently passed the “One Big Beautiful Bill Act,” which includes legislation to make permanent much of the 2017 Tax Cuts and Jobs Act. The U.S. Senate is now working on its version of the bill. The Big “I” has been actively engaged throughout the legislative process in both chambers, achieving significant victories for the independent insurance agency system.

Panelists also discussed legal system abuse and reform efforts, both at the state and federal level. At the state level, the Independent Insurance Agents of Georgia led the industry’s advocacy efforts to rein in lawsuit abuse in the state, culminating in legislation being passed and signed into law by Governor Brian Kemp.

Federally, legislation to create a new tax specifically targeting Third-Party Litigation Financing has been introduced into Congress and is currently included in the Senate tax bill that is under consideration. The Big “I” has advocated for its inclusion and is actively lobbying for passage.  

Other topics discussed included the impact of tariffs on the insurance industry, the National Flood Insurance Program, the Federal Insurance Office, and federal support for resilience investment and disaster response through agencies such as FEMA.

After the event, Symington commented on the significance of industry collaboration. “Forums such as this one help keep the lines of communication open among the major players in the p&c industry,” he said. “These events highlight that we are working together to address the challenges our industry faces during this time of such rapid technological, legislative and marketplace change, which helps us better serve our members and insurance consumers.”

Teddie Norton Reilly is Big “I” chief of staff.