Continuing
to learn important lessons!
First, let me thank
everyone who has contacted their delegate in support of HB 867 -
IIAV's legislative proposal on certificates of insurance. And let me encourage
those who have not contacted their delegate to do so in support of HB 867. Yes
we were contacted by a minor little company - AIG - who wanted to be exempt from
our legislation and who also presented us with an amendment that would likely
have brought the huge coalition down on our bill. But when we actually listened
to what they were not saying, we
understood that indeed our legislation needed an important amendment that would
actually enhance the integrity of the bill. Having said that, Joe Hudgins and I
met with the Bureau of Insurance and we drafted acceptable language to us, the
Bureau, AIG and would not affect the wide range of businesses and industries who
have agreed to either support - or not oppose - HB 867.
While there's a long story
in relation to this event - which I'm sure will be part of our 2012 Laws and
Regulations Class - the important lesson is to stop, listen and find out the
specific objection to something before you say "no" to something. AIG or similar
companies will not be exempt to HB 867, but their ability to conduct business in
unusual circumstances is protected.
HB 867 will now
likely be heard before the House Commerce and Labor
Committee on Thursday, February
2nd.
The Senate Commerce and
Labor Committee on Monday, January 30th, and the House Commerce and Labor
Committee on Tuesday, January 31st will begin hearings on all of the varied
bills establishing a Virginia Health Care Exchange. The McDonnell administration
has adamantly stressed that legislation is NOT needed this year and that in
fact, they have the legislative authority to create the exchange without further
legislation if it becomes necessary - given a Supreme Court ruling in the middle
of this year. Many legislators look at anything related to the exchange as a
political hot potato. We're working with the Virginia Health Underwriters to
ensure that legislators know that insurance agents are part of the solution to
the discussion on health care reform and that we're not part of the problem. And
indeed there are a number of favorable initiatives presented in the proposed
bills. The problem is however like when you tell you spouse that you hit all the
numbers for the lottery but it took five different tickets to get all the
numbers. Even Senator McEachin's bill had something we liked - he was the only
one who put a health insurance agent on the exchange's advisory board - although
Senator Watkin's bill said that the Exchange's Director must listen to a wide
constituency group...including health insurance agents. No before you get
excited about supporting Senator McEachin's bill recognize that his bill also
had the state or the exchange involved in establishing commission agreements for
agents and companies. If there's one thing we absolutely DON'T want is
government intrusion in agent commissions.
Once again, take a
look at the Legislative
Table and if you have any questions or concerns about
any of the proposals listed, please don't hesitate to let me know. Also - PLEASE plan on attending IIAV's
Insurance Day on the Hill - co-hosted with the National
Association of Insurance and Financial Advisors - Virginia Chapter and the
Virginia Association of Health Underwriters. It's critically important this year
that insurance agents show their presence both from property/casualty industry
but also the health insurance industry. Click here for a Day on the
Hill registration form.
As always, if you
have any questions, please don't hesitate to contact me by e-mail at Rbradshaw@iiav.com
or through my cell phone at 804-929-4134.
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