The legislation would phase out the 20% small business tax deduction for taxpayers with incomes over $400,000, while eliminating it altogether for those with incomes exceeding $500,000.
The Big “I” testimony noted that the businesses and nonprofit organizations our members serve were severely impacted by the COVID-19 pandemic and want to be a part of the solution on future pandemic risk.
The PRO Act would drastically change the nation’s labor laws and includes a provision that could significantly impact the independent agency system.
The executive order includes 72 initiatives by over a dozen federal agencies to tackle what President Biden deems are some of the most pressing competition problems in the U.S.
Agents who invested in digitization were better equipped to navigate the pandemic, according to Nationwide survey. Yet the agent-client relationship remains vital.
The need for cyber risk mitigation is profound, but only 12% of Americans have purchased a person cyber insurance policy in the past year, according to a Chubb survey.
The deal is anticipated to make Liberty Mutual the second largest independent agency carrier in the U.S., adding $2.3 billion in premium and State Auto’s network of approximately 3,400 independent agencies.
The legislation includes an act requiring all new cars to have an alert system to prevent children being accidently left in back seats, as well as a provision that would increase the required amount of insurance for commercial vehicles.
The new companies added to the platform are Builder’s and Tradesmen’s Insurance; Coterie; Life Assurance Company of America; PersonalUmbrella.com; and Prime Insurance Company.
While the composite rates for both commercial and personal lines decreased overall in second quarter 2021, all segments experienced rate increases.
