President’s Blog


15
Jan 2018

Sometime last year, I came across an executive survey – I think it may have been done by Forbes magazine, but don’t quote me on that – that found that nearly two-thirds of CEOs said that they were likely to form an alliance with a “non-traditional” partner in the next three years. And just this week, I came across a couple of news stories that back up those findings.

The first was a story from the January 11,

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08
Jan 2018

2017 is behind us. By any standard, the year was a success for the Alliance and its members. In the congressional arena, the Alliance kept the fraternal tax exemption off the table during the most significant tax reform debate in 30 years. At the NAIC, the Alliance secured an exemption from PBR requirements for small insurers that would have imposed expensive and unnecessary regulatory requirements on small life insurers, including many fraternals. Representatives from virtually every member society participated in at least one of our conferences and webinars,

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18
Dec 2017

A few dedicated readers of this post have mentioned that I have not listed any favorite books in a while, so here’s a few that would make great gifts for the readers on your “nice” list…

Alexander Hamilton (Ron Chernow) – I knew about as much about Alexander Hamilton as the average American before this summer, and that was that he was the first Secretary of the Treasury and was killed in a duel with Aaron Burr.


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11
Dec 2017

The fact that I haven’t written about governance issues in a while does not diminish their importance for individual societies or the future of the fraternal system.  That point has been driven home in recent weeks as I’ve heard governance nightmares – as well as one beacon of hope – from one fraternal CEO after another.  And underscoring all these developments within the fraternal community is the action taken last week by the NAIC’s Financial Standards and Accreditation Committee to approve the Corporate Governance Annual Disclosure Model Act (CGAD) as an accreditation......

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04
Dec 2017

Despite some last-minute hand-wringing and because of some last-minute horse-trading, the Senate did what most pundits thought they would do – and what most GOP leaders felt they had to do – and passed a bill enacting sweeping reforms to the U.S. Tax Code on a 51-49 party line vote. The House passed its version of tax reform several weeks earlier. The differences between the two measures will be reconciled by a joint House and Senate Conference Committee.

 » Read more about: Senate passage of tax bill brings reform one step closer…......

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27
Nov 2017

It’s been quite a year for our household. We welcomed Olivia Anne Annotti to the clan on November 13 and she is living proof that little girls ARE sugar and spice and everything nice! Olivia is a Texan, which means that we will soon be Southwest Airlines’ #1 customers on flights from Chicago to San Antonio. I hope your Thanksgiving was full of friends and family and that your holiday season will be......

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20
Nov 2017

For this great American holiday, the American Fraternal Alliance thanks its member societies for their generosity and spirit of giving to those in need.

OAK BROOK, IL November 20, 2017 — The American Fraternal Alliance (Alliance), the national trade association representing 62 fraternal benefit societies in the U.S. and Canada, announced today that, as of November 10, 2017 its member societies have contributed $10,166,381 to relief efforts from recent hurricanes,

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20
Nov 2017

At the end of the day, giving is what distinguishes fraternals from our commercial insurance colleagues. The impact of our giving spreads in concentric circles: first to our members; then to the communities in which they live and work; and finally, to the nation and world.

Fraternals give of themselves to help those who need it every day. But in times of crisis, the need – and the fraternal response – is greater......

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13
Nov 2017

As expected, late last week the U.S. Senate jumped into the tax reform debate with the introduction of Senate Finance Committee Chairman Orrin Hatch’s “Chairman’s Mark” measure.  The Senate version of the tax reform proposal has the same basic goals as the House bill (H.R. 1), which was passed on a party line vote last week by the Ways and Means Committee: simplification of the Tax Code with modest reductions in individual tax......

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06
Nov 2017

Last Thursday, the House Ways and Means Committee released its tax reform bill to reduce corporate tax rates and compress individual rates. We are happy to report that all exemptions in the 501 section of the Tax Code, including our 501(c)(8) exemption, are retained. The Alliance is still working our way through the provisions that may have a specific impact on life insurers but in our initial review there do not appear to be provisions directly impacting the taxation of life insurance products.

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