While federal oversight has been debated for years on Capitol Hill, the economic crisis has drawn a lot of attention to the need for reform and modernization of financial services regulation, according to Charles Symington, IIABA's senior vice president for federal affairs.

While there is “a tremendous amount of momentum” behind the regulatory modernization movement due to cataclysmic economic events–such as the near failure of AIG and its controversial federal bailout–what form it will ultimately take, and how insurance will figure into the legislative equation, is still up in the air, he noted.

Regulatory reform “has been the number-one issue for us for many years,” but perhaps for the first time, due to the economic crisis, it is also the most important issue for the entire country, said Mr. Symington.

Attendees will have the opportunity to offer their opinions on Thursday, April 30, when agents are scheduled to spend the day on Capitol Hill meeting with their Congressional representatives or senior aides. Mr. Symington pointed out that agents need to make their own appointments, but traditionally this has been done in conjunction with their state associations.

The day before heading to the Hill, agents will get an issues briefing in the afternoon to prepare their strategy and talking points for these meetings.

In addition, prior to leaving for Capitol Hill, agents can attend the Legislative Conference Breakfast, where they will hear from the House Minority Whip, Rep. Eric Cantor, R-Va.

Among the key legislative issues the association is actively pursuing, according to Mr. Symington, is opposition to an optional federal charter, support for agent licensing reform and reform of surplus lines market oversight.

In addition, there's been a great deal of talk recently about creating a federal systemic risk regulator–a move Mr. Symington indicated IIABA would not necessarily oppose, if such a regulator “works for our membership and the consumers they serve.”

Another major issue moving onto the front burner is health insurance reform, which could have “very significant ramifications for independent agents,” said Mr. Rusbuldt, citing the growing number of agents who sell group and individual health coverage to complement their property-casualty portfolio.

IIABA's goal in the health care reform debate, noted Mr. Symington, is to ensure the private market delivery system remains intact and still involves the “good counsel and advice of insurance professionals.”

Other issues about which agents are “very energized,” observed Mr. Symington, is long-term reauthorization and reform of the federal flood insurance system, coverage for other natural disasters, as well as crop insurance.

OTHER EVENTS

Looking to involve the next generation of agency leaders, IIABA offers its Young Agents section their own briefing on Wednesday, April 29, with Rep. Kevin McCarthy, R-Calif., addressing their legislative luncheon.

On Thursday night, April 30, IIABA kicks off its annual convention with an opening party in the Exhibit Hall, where “Ask an Expert” sessions will be scheduled, with speakers from various fields of expertise making short presentations and being available for one-on-one discussions afterward, explained Madelyn H. Flannagan, the association's vice president of research and education.

The idea reflects the very popular IIABA online Virtual University tool many agents use regularly, said Ms. Flannagan. Presenters on both Thursday night and during the day Friday will give a 20-minute presentation on their subjects. Among some of the scheduled presenters:

o Bill Wilson, talking about “Insuring Teens on Their Own Auto Policies…BAD Idea.”

o Al Diamond, discussing “Incentive Compensation for Non-Producer Staff.”

o Ed Higgins, discussing “E&O Loss Prevention in a Progressively Paperless Office.”

Also on tap is the Young Agents breakfast and Presidents' panel with Big “I” Leadership, where traditionally the IIABA chairman (currently C. Brett Nilsson, senior vice president for the Buckner Company in Ogden, Utah) leads a discussion with major carrier presidents about some of the challenges facing agents and their partners.

Also scheduled to appear at the conference is Marvin Kelly, president of the Chartered Property Casualty Underwriters Society, who will address the IIABA's Diversity Luncheon. (This is by invitation only. Contact Bill Pierson at [email protected] for more information).

Mr. Nilsson will kick off the May 1 General Session with his “State of the Association” address. Mr. Rusbuldt will then moderate a panel of carrier CEOs in a discussion about the state of the industry and how it is affecting agents. The scheduled panelists include:

o Ramani Ayer, CEO of The Hartford

o Ted Kelly, CEO of Liberty Mutual

o Glenn Renwick, CEO of Progressive

o Bob Restrepo, CEO of State Auto

The meeting's final speaker that day will be Stephen Dubner, author of “Freakonomics,” which discusses incentives and how people get what they want or need when others want or need the same thing.

As they have been doing for the past few years, members of the Independent Insurance Agents Association of Japan will be on hand to continue learning about the American independent agency system. Jeff Etzkin, IIABA's vice president of events and international membership, has arranged a series of seminars to discuss policy standards and best practices along with other educational opportunities.

For members of “Trusted Choice,” Dave Evans, senior vice president and director of the IIABA's national branding campaign, said agents can now expect a little help with their marketing with a reimbursement of up to $500. The dollars are aimed at such things as helping agencies develop their Web sites, as well as other promotional efforts.