Future One, a collaboration of the Big “I” and leading independent agency companies, met in September to discuss the industry’s strategy and role on a myriad of government affairs issues including the Terrorism Risk Insurance Act (TRIA) and the National Association of Registered Agents and Brokers legislation (NARAB II).

 

For more than 25 years, Future One has brought the industry’s top stakeholders together for two critical purposes: industry research and government affairs. The group is tasked with working to improve insurance laws and insurance regulation and conducts the most authoritative, in-depth research available on independent agents, brokers and the independent agency system.

 

Effective legislation and regulation comes from teamwork—a philosophy that is the basis of Future One’s government affairs efforts. Future One is successful because it helps develop policy consensus on both national and state issues, and works to secure legislation and regulations that are favorable for both agents and companies. TRIA and NARAB are two important legislative efforts that fit these criteria and are poised to see action as the 113th Congress comes to a close. The lame duck session could include extension of the TRIA program – which is set to expire at midnight on Dec. 31, 2014 - and passage of the NARAB II legislation.

Industry leaders, including Future One and the Big “I”, are encouraged by the progress in Washington, D.C. this year on both issues and are cautiously optimistic Congress will act on them before the year is out.

 

On the research side, Future One probes industry trends through the Agency Universe Study. This study is a comprehensive analysis conducted every two years that is the foremost authority on agency business issues. The Agency Universe Study also takes an in-depth look at technology, market share and the factors that drive consumer insurance decision-making. Read more about this year’s findings in the Big “I” Insider’s lead story.