A new rating method set to take effect Jan. 1, 2014 will likely result in rate increases of 40-100% for certain employers in Texas. New federal insurance reforms require "Small Employer Group" to be defined as employer groups having 1-100 employees, instead of Texas' current definition of 2-50 employees. "Modified Community Rating" requirements that apply to this group have been shown to result in significant rate increases.
More than 150 insurance and financial advisors from around the country concluded NAIFA's annual Political Involvement/Political Action training meeting with visits to congressional offices Tuesday.
On the occasion of the NAIFA-Texas Conference and Annual Business Meeting, the association took the time to recognize two outstanding leaders for their service.
Delegates at last week's Conference and Annual Business Meeting cast ballots on several important measures affecting the state assocation, including the highly-anticipated vote on a by-laws amendment that, if ratified, would have reduced the number of state trustees from seven to five. Strong points were made for both sides during debate, but ultimately the amendment did not garner the necessary 2/3 majority vote to be accepted.
Last Tuesday morning, 130 NAIFA-Texas members, along with colleagues from the Texas Association of Health Underwriters and the Texas Association of Life and Health Insurers, took to the Capitol to meet with legislators and their staff regarding issues of importance to our industry.