Trey Wood, the recipient of this year’s Maurice Herndon Scholarship, is a third-generation insurance agent. At this year’s Big “I” Legislative Conference, he is doing his part to uphold another family legacy: public service.
The bill is wrapped in partisan controversy related to the Supplemental Nutrition Assistance Program. However, the bill provisions that relate to the Federal Crop Insurance Program have not been a point of contention.
The proposal would revitalize the state medical loss ratio waiver program, making it easier for state regulators to request reasonable changes to requirements for insurers offering health insurance policies in their state.
Reflecting no change from the last quarter of 2017, composite rates for commercial and personal lines were up +2% and +3%, respectively, in the first quarter of 2018.
Congress is expected to pass a bill to fund the government through the end of the fiscal year, which also includes authorization for continued operation of the NFIP through July 31.
On March 15, the U.S. Court of Appeals for the 5th Circuit vacated the entire U.S. Department of Labor fiduciary rule. The Big “I” is pleased with the decision as the association opposes the rule.
The changes, which apply to the FY2019 WYO Arrangement effective Oct. 1, include, among other things, eliminating the WYO non-compete and revising the methodology for calculating WYO compensation, which is used to pay agent commissions.
Yesterday, the U.S. Senate passed legislation which modifies provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and other laws governing the financial industry, including international insurance regulatory issues.
House Democratic Whip Steny Hoyer (D-Maryland) will address Big “I” members on Thursday, April 19 during the annual Legislative Conference Breakfast.
Earlier this week, the Big “I” sent a letter to the Department of Labor regarding a proposed rule intended to expand access to association health plans. Big “I” members have conflicting views on the regulation.