President’s Blog


14
Aug 2017

“Smells like…victory”

The Alliance achieved a significant victory last week, and it did not require an attack fueled by jellied gasoline. After over two years of prudent, thoughtful, and effective advocacy, the NAIC Executive and Plenary Committee approved an amendment to the Principles-Based Reserving Small Company Exemption (PBR SCE). The amendment allows insurers – commercial and fraternal – with less than $50 million in annual life insurance premium to apply for an exemption to PBR rules so long as the meet the minimum RBC ratio requirement in their domiciled state,

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14
Aug 2017

OAK BROOK, IL August 9, 2017 — The American Fraternal Alliance (Alliance), the national trade association representing 63 fraternal benefit societies in the U.S. and Canada, applauds the adoption by the National Association of Insurance Commissioners Executive and Plenary Committee (NAIC) of an Alliance-proposed amendment to the existing Principle-Based Reserving Small Company Exemption (PBR SCE). The amendment will exempt truly small life insurers from complying with burdensome and unnecessary reserving regulations that do not make sense for the insurers or the regulators responsible for their oversight.

 » Read more about: American Fraternal Alliance Applauds......

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07
Aug 2017

  1. Bob Cialdini’s keynote address – I’ve read several of his books, Influence being the most recent. And his research-tested tactics have improved almost every facet of my business and personal life (including a couple I use successfully at home). Can’t wait to hear him in-person – as long as I can figure out a way to keep my spouse out of this session so my negotiation tricks are not exposed…
  2. Branding campaign update –......

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31
Jul 2017

Did I get your attention?  Good.  Read on…

The opening salvo of tax reform has been fired – The Senate’s failure to pass “repeal and replace” legislation for the Affordable Care Act may trigger a quick pivot to an all-out effort to enact tax reform legislation by the end of the year.  Last week, the so-called “Big Six” — House Speaker Paul Ryan (R-WI), Senate Majority Leader Mitch McConnell (R-KY),

 » Read more about: Three Items......

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24
Jul 2017

There’s a lot going on out here in public policy land.  Here’s a recap of the week that was and why a strong, independent, and effective trade association is so important to fraternals…

  • On Monday, July 17, the Alliance-sponsored amendment to the existing Principle-Based Reserving Small Company Exemption (PBR SCE) took another huge step toward final enactment when the NAIC Life Insurance (A) Committee approved the measure by a 12-1 vote.
 » Read more about: The......

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17
Jul 2017

I always catch some flak from members when I compare fraternals to credit unions. Rest assured, I fully understand the difference between the arguments justifying the fraternal tax exemption versus those used by credit unions. But from a purely operational and historical perspective, fraternals and credit unions share many characteristics. That’s why I thought this article by Credit Union National Association President Jim Nussle was so interesting. His comments about credit unions building awareness among members and nonmembers and being disrupters by providing innovative solutions in the marketplace can be applied......

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10
Jul 2017

It’s hard being a fraternal.

You have to operate a well-run financial services company that offers consumers the life insurance and retirement income products they need and want. You have to provide those products at the price consumers are willing to pay in a fiercely competitive marketplace. You have to offer members an array of additional benefits such as scholarships, affinity program discounts, and cultural events. And, on top of all that, you have to fund programs and facilitate volunteer activities that reflect the shared values of your members.

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26
Jun 2017

When I was born back in the dark ages, my dad – who was very excited to have a son after four daughters – went into the recovery room, kissed my mom, grabbed the doctor and…headed to the track!  When he arrived, the woman at the betting window said, “Mr. Annotti, you look like you’re in a whirl.”  He explained the reason for his exuberance, looked down at the program, and noticed that there was a horse in the next race named “In......

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19
Jun 2017

Guest Blog – Joe is traveling quite a bit this week so here with a guest blog is Andrea Litewski, Alliance Director of Education.

Last month, the Alliance held its first ever Spring Symposium, a reimagining of our traditional Mid-Year Section Meetings. Over the course of a day and a half, the Symposium had thirty sessions in five different tracks – Business Operations, Communications and Community Engagement, Compliance,

 » Read more about: Spring Symposium Hits the Mark…  »...

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