NAIFA Continues Its 125-Year Legacy of Advocating for Advisors and Their Clients

The National Association of Life Underwriters was founded 125 years ago today, June 18, 1890, in Boston as an advocacy organization for insurance agents.
 
Those first NALU members came together with the aim of promoting regulations that would protect the integrity of the insurance industry and root out unscrupulous agents who could give insurance a bad reputation with consumers.
 
While changing its name along the way, NAIFA has remained committed through the years to advocating for a positive legislative and regulatory environment not only for insurance and financial professionals, but also for their clients and consumers in general.
 
A list highlighting some of NAIFA’s legislative and regulatory accomplishments through the years appears on the NAIFA125.org anniversary website. NAIFA’s  legacy along with the dedication of its current members has built a solid reputation for the association on Capitol Hill and in state capitals around the country.
 
Watch a brief video of members of Congress wishing NAIFA a happy anniversary. 
 
Today, NAIFA boasts one of the strongest political involvement and political action efforts in the insurance and financial services industry. NAIFA’s political action committee contributed approximately $1.8 million to federal candidates and committees, making it the largest insurance PAC and the twelth largest PAC overall.
 
NAIFA has members who are constituents, taxpayers and employers in every U.S. congressional district. NAIFA has at least one member who serves as a “key contact” for each representative and senator in Congress. The annual Congressional Conference draws more than 700 insurance and financial advisors to Washington, D.C., each spring to visit their congressional offices on Capitol Hill and discuss with lawmakers the issues that are important to their practices, colleagues and clients.
 
Along with its illustrious past, NAIFA sees an advocacy future that is equally bright. One hundred and twenty-five years of advocacy success has laid the groundwork for recent wins and future efforts.
 
NAIFA was recently instrumental in securing passage of a law creating the National Association of Registered Agents and Brokers (NARAB), which will streamline multi-state licensing for advisors and help them maintain relationships with clients. Currently, among other things, NAIFA is working to:
  • ensure that the proposed Department of Labor “best interest” rule will not bring unintended consequences for advisors and middle-market retirement investors,
  • protect families preparing for their financial futures from tax reform efforts that could target insurance and other products,
  • promote targeted revisions to sections of the Affordable Care Act that are particularly harmful to advisors and their clients,
  • and discourage states from implementing mandatory state-run retirement plans that would compete with the private sector.
 
As we celebrate NAIFA’s 125th anniversary today, we keep our eyes keenly focused on the future. Advocacy is as important now as it has ever been to protect the business of NAIFA members and ensure the integrity of the insurance and financial services industry.


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