When investors nearing retirement age contract insurance professionals with questions about options for their qualified plan, they will no longer be able to provide important information, but will simply have to refuse to answer questions or serve those needing guidance," the AALU
and NAILBA assert in their letter.
And the AALU
, for one, has claimed it as a victory for its members.
When a controversial bill comes before Congress, representatives from an alphabet soup of associations: NAIFA, AALU
(the Association for Advanced Life Underwriting), ACLI (American Council of Life Insurers) and perhaps HIAA (Health Insurance Association of America) and several others come to represent "the industry.
Other industry speakers included Justin Brown of AALU
, Pete Gilman of John Hancock, C.
Following his main stage presentation at the AALU
2016 annual meeting, held May 1-3 in Washington, D.
The two organizations are girding for what's likely to be a "bloody battle," as Jeff Ricchetti, an outside counsel to the AALU
, noted during a panel discussion at the AALU
Former MDRT President Tony Gordon, who is British, famously warned AALU
annual meeting attendees in 2007--and again in 2010--to beware of regulators massing and abusing power, as he witnessed with the creation of the Financial Services Authority, the U.
That means that, in the absence of improved economic growth, we're looking at threats to entitlements and pressure to raise revenues, which neither party wants to entertain," said Kenneth Kies, managing director of Federal Policy Group LLC and an outside counsel to AALU
Like the annual meeting of the AALU
, the NAIFA Congressional Conference has a political orientation.
Founded in 1957, the AALU
is combating federal legislative and regulatory threats facing the industry by expanding and diversifying its membership ranks.
I've noted that you recently completed terms on the boards of both the AALU
and the MDRT Foundation.
NAILBA and partner AALU
issued a statement saying their primary priority is to analyze the impacts of the rule and provide tools and resources to members as they navigate the impacts of the rule.