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Legislative Update from
our Team at Adams & Reese

After three contentious legislative sessions in 2017, lawmakers overwhelmingly voted "no" to the question of convening to override Governor John Bel Edwards's (D-Amite) vetoes. In numbers released last Monday, 37 of 39 Senate members and 82 of 103 House members kept with tradition and canceled the veto session — a tradition that has not been interrupted since the adoption of Louisiana's Constitution in 1974. With the threat of a veto session out of the way, over 200 Louisiana laws went into effect yesterday, August 1. For a full listing of laws from the 2017 Session that have gone into effect, follow this link.

As the October 14 election cycle picks up, several candidates have been disqualified from the running. Opelousas Independent, "Ron" Caesar has been disqualified from his bid for State Treasurer — leaving six people in the race to finish the term of recently elected U.S. Senator John Kennedy (R-Madisonville). This race has just started to heat up after a surprising exit by Kenner Republican State Representative Julie Stokes, a moderate reformer and CPA who chose to end her run for office after a breast cancer diagnosis. As key endorsements begin to be made and fundraising efforts hit full speed, this race is set to dominate much of Louisiana's political discourse over the next few months as Jindal-era budget architect Angele Davis (R-Baton Rouge), banker and State Senator Neil Riser (R-Columbia), and former State Representative and "fiscal hawk" John Schroder (R-Covington) vie for the lead.


Post Convention Wrap-up

Check out our PIA Facebook to see pictures of this year's convention. Also, you can see our General Session that we taped live. We had a very interesting panel discussion and want to thank once again our special guests: Insurance Commissioner Jim Donelon, Representatives Mike Huval and Edmond Jordan, Lobbyist Robert Wooley and PIA National President Gary Blackwell. We had a great turnout, as well as participation from all that supported us this year. We want to thank all our Sponsors and Exhibitors. If you missed this year, please make plans now to join us next year at the Marriott Grand Hotel in Point Clear, AL on July 14-16, 2018 for our 75th Annual Convention — it's our Diamond Year!!! Be sure to be there to celebrate with us!

Upcoming PIA Events
08/23/2017 -- CISR Personal Auto (Kenner, LA)

08/29/2017 -- CISR William T Hold (Baton Rouge, LA)

08/30/2017 -- CISR Personal Residential (Lafayette, LA)

08/30/2017 -- New Orleans Chapter CE Day

08/31/2017 -- YIP 13th Annual Bowl-A-Thon

08/31/2017 -- CISR Agency Operations (Shreveport, LA)

08/31/2017 -- YIPS Bowl A Thon Sponsorship Opportunities

09/06/2017 -- New Orleans Chapter Meeting

09/06/2017 -- CISR Commercial Property (Baton Rouge, LA)

09/07/2017 -- CISR Personal Lines Misc (Kenner, LA)

Virtual Exhibit Hall

Check out our
Virtual Exhibit Hall

Disaster Relief Center
Click to enter our
Disaster Relief Center

What Does ACA Repeal Collapse Mean for Agents?

All of the effects of the failure to repeal or replace the Affordable Care Act (ACA) cannot be determined now, because much of what happens next is up in the air. At the risk of taking one tweet out of context, after the vote President Trump tweeted, "As I said from the beginning, let ObamaCare implode, then deal. Watch!" While Senate Majority Leader Mitch McConnell said after the vote, "It's time to move on," President Trump has indicated he would like to see another vote on ACA repeal shortly. While the House has adjourned for its August recess, McConnell still plans to keep the Senate in session another two weeks.

The impact of all of this on agents will depend a lot on what happens now to the health insurance market. Will Congress come together and take steps to stabilize markets? Or will repeal advocates attempt to destabilize them? Will President Trump order payments, known as cost-sharing subsidies, to insurers cut off on the exchanges when they become due each month? (The next payment is due in mid-August).

With a mid-August deadline to finalize 2018 health insurance rates looming, the NAIC said Congress must act quickly before its recess to stabilize the individual health insurance market.

READ: Insurers Await Trump Decision on Health Cost Subsidies

PIA Members' Involvement in Health Insurance

According to the 2017 PIA Independent Agent Survey, in health insurance 78.84% of PIA members participate in private market placement while 16.2% have to engage in the ACA marketplace for their customers. With respect to health insurance, 68.1% of PIA agencies reported a loss of more than 10% of earnings in this line over the last three years, with an increase in required service. These figures indicate that the overwhelming majority of PIA members participate in private market health insurance placement, with very limited use of the ACA, mostly as a courtesy to their clients.

NAIC Urges Renewal of NFIP

The National Association of Insurance Commissioners (NAIC) issued a letter to Senate Banking Committee and House Finance Committee leadership urging lawmakers to reauthorize the National Flood Insurance Program (NFIP) before its expiration.

"The NAIC stands ready to work with Congress to support a long-term reauthorization," said NAIC CEO Mike Consedine.

READ: PIA Supports NFIP Reauthorization

The NAIC also issued support for the Flood Insurance Market Parity and Modernization Act (S. 563), which would allow states to remove private flood insurance restrictions, helping insurers to provide coverage that would serve as a market alternative to the NFIP. The bill would allow states to remove private flood insurance restrictions, helping insurers to provide coverage that would serve as a market alternative to the NFIP.

Thanks to Our 2017 PIA Partners:

Capital Premium Financing

Excalibur National Insurance Company

LUBA Workers' Comp

Markel FirstComp

SageSure Insurance Managers, LLC

Stonetrust Commercial Ins. Co.