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6 min read

Are You Ready For the 2026 Estate Tax Sunset?

By NAIFA-Texas on 4/10/24 10:29 AM

This Article is Brought to you by NAIFA-Texas Sponsor, Security Mutual Life Insurance Company of New York

Most Americans have not paid too much attention to estate taxes, or “death taxes”, as the mass media likes to call it. But moderately or very wealthy people need to . . . now! Learn more here. https://smlny.com/are-you-ready-for-the-2026-estate-tax-sunset/

About Security Mutual Life Insurance Company of New York

Founded in 1886, Security Mutual Life –– The Company That Cares® –– is one of the leading mutual life insurance companies in the United States. Security Mutual Life has been helping protect families and businesses during periods of prosperity, as well as during wars and times of economic uncertainty.


Topics: #NAIFAProud Sponsor Security Mutual Life
7 min read

Why is Disability Insurance Important?

By NAIFA-Texas on 4/8/24 11:41 AM

This Article is Brought to you by NAIFA-Texas Sponsor, Capital Strategies

Disability Insurance Awareness Month is coming up in May. Those that know me here at NAIFA Texas know I hate to start talking about Disability Insurance in may, I want to start educating and getting the conversation going in April, well all year round, but at least April so you have time to talk to your clients.

Why is Disability Insurance Important:

  • Protects your client’s ability to earn an income if something happens to their health.
  • Disability can be anything, mental health, physical, illness.
  • It helps you protect what you are working on with your clients and their savings.

Across the Insurance industry, Disability Insurance is not highly implemented. There are many reasons for this, could be cost of the plan, the vagueness of the situation, the complexity of the policies.

Here at Mass Mutual brokerage, through Capital Strategies, we are committed to helping everyone in our industry implement the financial goals they are working on with their clients and protect the most important part of obtaining those goals, ability to pay for them. Disability Insurance is extremely important to talk about with your clients, but it does not have to be full protection. At Mass Mutual we are happy to help you design the right plan.

Check out what Mass Mutual Disability has to offer by clicking here

If you want to learn more about how Disability Insurance can fit in with your practice, please contact Rodney Mogen at 512-680-6851 or rmogen@massmutualbrokerage.com.

Topics: #NAIFAProud Mass Mutual Sponsor Capital Strategies
4 min read

Financially Literate Consumers Benefit Everyone

By NAIFA-Texas on 4/3/24 9:09 AM


April is National Financial Literacy Month, an annual observation NAIFA wholeheartedly agrees with. But why is financial literacy important and what are we doing about it?

FINRA surveys consistently show that around two-thirds of Americans lack basic financial understanding, and their lack of knowledge is significant. Those who score higher on FINRA’s financial literacy quiz show a greater tendency to earn more than they spend, have an emergency fund of three-months’ salary or more, contribute to retirement accounts, and accurately estimate their retirement savings needs.

In addition, consumers who are more financially literate are better equipped to manage their debt and avoid high-interest loans, more likely to save and invest effectively, and more likely to manage financial risks and cope well with unexpected financial challenges and emergencies.

NAIFA Supports Financial Literacy

During April and throughout the year, NAIFA promotes financial literacy. Life Happens, NAIFA’s consumer outreach arm, created and coordinates important consumer outreach campaigns, like Insure Your Love Month, Disability Insurance Awareness Month, and Life Insurance Awareness Month. Life Happens provides financial professionals with tools and resources to educate consumers. During National Financial Awareness Month, Life Happens is creating a social media toolkit of posts and graphics that will soon be available to NAIFA members.

Financial professionals play an important role in improving financial literacy among their clients and in their communities. They often go well beyond providing products, services, and guidance, and empower those they work with to understand things like budgeting, saving, investing, borrowing, debt management, retirement planning, and risk protection. Many NAIFA members volunteer in their broader communities, working with schools, churches, libraries, local governments, civic groups, or business organizations to provide financial literacy education. Understanding among consumers leads to better decision making and improved financial security. We highlight NAIFA members’ good work in the Advisor Today blog, on our social media accounts, and in the Advisor Today Podcast series.

Advocating for Financial Literacy

NAIFA chapters have leveraged their political grassroots influence to encourage state laws adding personal finance courses to high school graduation requirements. Students are required to have basic proficiencies in math, English, science, and other subjects. Doesn’t it make sense that they should graduate with some understanding of financial matters? Not only does this provide them a base of knowledge as they face the prospects of making their own personal finance decisions, but it also could build enthusiasm and encourage some to pursue insurance and financial services as a career.

In 2023, Alabama, Connecticut, Idaho, Indiana, Louisiana, Minnesota, Montana, Oregon, West Virginia, and Wisconsin passed measures to require public high school students to take a one-credit course in financial literacy before graduating. To date, 25 states have passed similar measures.

At the federal level, NAIFA members continue urging lawmakers to join the Congressional Financial Literacy and Wealth Creation Caucus co-chaired by Reps. Young Kim (R-CA) and Joyce Beatty (D-OH). The Financial Literacy and Wealth Creation Caucus aims to equip Americans with the skills and resources they need for economic stability, wealth-building, and prosperity.

Educated consumers are more financially secure, promote the robustness of the U.S. economy, and provide a market for important insurance and financial products and services. It’s hard to overstate the importance of financial literacy this month and every month.

Topics: #NAIFAProud Life Happens Financial Literacy
7 min read

NAIFA-Dallas Luncheon The Over-Reaching DOL: Past, Present, Future

By NAIFA-Texas on 4/1/24 1:46 PM

NAIFA-Dallas held a Membership Luncheon on March 28, 2024 with guest speaker and NAIFA-Texas Government Relations Chair, Jason B. Talley, LUTCF featuring his presentation "The Over-Reaching DOL: Past, Present, Future".

Topics: #NAIFAProud Membership NAIFA-Dallas DOL Luncheon
2 min read

Welcome New NAIFA-Texas Members

By NAIFA-Texas on 4/1/24 8:29 AM

NAIFA-Texas is excited to welcome the following new members. We look forward to their involvement are honored for them to join our great network of financial professionals!

Topics: #NAIFAProud new members
7 min read

Navigating the Evolving Landscape of Cyber Insurance and How it Relates to Cyber Compliance

By NAIFA-Texas on 3/25/24 11:13 AM


With over three decades of expertise in the Life Insurance sector, I've come to realize there's nothing more vital for safeguarding your business than cybersecurity. Whether you're a financial advisor, an insurance agent, a broker-dealer, or a principal of a brokerage agency, a single cyberattack could devastate your business. Adopting a Zero Trust approach is essential. Moreover, cybersecurity is crucial for meeting regulatory and compliance obligations. I urge you to conduct audits on your network and website. I'm here to assist you in securing a complimentary audit. Now, let's delve into some key insights on cyber insurance, compliance, and security.

The global cyber insurance market tripled in volume in the last five years, expanding to gross direct premiums of around $13 billion in 2022, according to the Swiss Re Institute (SRI). In two years, the market has seen rate increases and re-underwriting to restore profitability. Swiss Re Institute expects premiums to grow to $23 billion by 2025. 

There has been a surge in submissions. Over the last half-decade, there has been notable maturity in this sector. With access to comprehensive data and accumulated experience, insurers now have a more refined framework for assessing and pricing cyber risks.

However, recent industry reports highlight some concerning areas. Loss ratios are on the rise, cyber insurance limits are shrinking, and coverage terms are becoming more restrictive, all impacting insurers' efforts to manage their risk exposure effectively.

Given the evolving cyber landscape, insurers continuously recalibrate strategies. They maintain rigorous underwriting practices, emphasizing the importance of advanced cyber hygiene. Consequently, coverage terms are closely aligned with an organization's level of preparedness. Establishing a strong Cybersecurity Program is one of the first steps towards meeting insurance and regulatory demands. A Cyber Program Management System like Buckler can fast-track policy management and compliance. While there was a decline in claims and ransomware incidents in 2022, there was a resurgence in 2023. In the United States alone, ransomware events spiked by 75% within the first six months of the year, according to a report by Malwarebytes Inc. Even with this as a driver, enterprises and agencies often wait to see fines and enforcement from regulators before taking action themselves. Swift changes are happening with the SECs new cyber rules, coverage restrictions for systemic risk and privacy violations and increased expectations for cybersecurity. 

Certain industries, such as financial services, professional services, technology, and healthcare are particularly susceptible to cyber threats with high volumes of private data. These sectors, along with their associated supply chains, face high, or extremely high, levels of risk. Consequently, many organizations in these sectors are turning to specialized solutions offered by insurance brokers, carriers, and solution providers to better manage and mitigate risks effectively.

Three Significant Trends Shaping the Cyber Insurance Industry

1. Increased Security Requirements

As cyber threats become more sophisticated, insurers take a more proactive approach to risk management by implementing stringent security standards for their clients. This trend is evident in the growing prevalence of detailed security questionnaires that insurers require businesses to complete as part of the insurance application process.

Businesses seeking cyber insurance must be prepared to provide comprehensive information about their cybersecurity posture and demonstrate adherence to industry best practices and cyber regulations.

HIGHLIGHT: In regions where rates rose, the trend was for a slower pace of increase. Insurers continued to focus on cybersecurity controls, typically looking for year-over-year improvements. (March 2024 Global Insurance Market Index)

2. Increased Scrutiny During the Claims Process

In the event of a cyber breach, insurers will often conduct thorough investigations to determine whether the insured party complied with the security requirements outlined in their insurance policy. Insurers may deploy teams of experts to assess the insured party's cybersecurity practices and verify their compliance with the terms of the policy.

If the insured party is found to be non-compliant with the security requirements, the insurer may deny the claim, leaving the business responsible for covering the costs of the cyber breach. This trend underscores the importance of maintaining robust cybersecurity measures and regularly reviewing and updating security protocols to ensure compliance with insurance requirements.

HIGHLIGHT: It’s also not unusual for cyber insurance claims to get rejected. This is usually either on account of exclusions or poor cybersecurity hygiene on the part of the insured. Estimates from Marsh’s Global Insurance Market Index suggest that around 27% of cyber insurance claims were not honored or were partially paid due to exclusions within the cyber cover.

3. Rising Premiums

As cyber threats continue to evolve and breaches become more frequent and costly, insurers are adjusting their pricing models to reflect the heightened risk environment. This trend is particularly pronounced for businesses in high-risk industries or those with a history of cyber breaches, like the financial services industry.

Businesses should be prepared for the possibility of higher cyber insurance premiums and factor these costs into their overall risk management strategy. Investing in proactive cybersecurity measures and demonstrating a commitment to risk mitigation may help businesses negotiate more favorable premium rates with insurers.

HIGHLIGHT: The cost of Cyber Insurance in the 2nd quarter of 2022 rose to 79% in the US. Marsh’s Global Insurance Market Index. While premium costs fell by 6% in the third quarter of 2023 compared with the same quarter in 2022, ransomware- and privacy-related claims had already skyrocketed from the previous year, according to risk management consultancy Marsh. (Dark Reading)

The cyber insurance landscape is evolving rapidly. Insurers are implementing stricter security requirements, increasing scrutiny during the claims process, and raising premiums to reflect the growing cyber risk landscape. To effectively navigate these trends, businesses must prioritize cybersecurity investments, maintain compliance with insurer requirements, and proactively manage cyber risks. By staying informed about emerging trends and working closely with experienced solution providers, businesses can protect themselves against the financial impact of cyber incidents to ensure their long-term resilience in an increasingly digital world.

Sample industry solutions that can remove or mitigate risk for stronger cyber insurance alignment are:

 Buckler: A cyber program management system with built-in regulatory compliance and evidence proof for easier program management and communication across teams, leadership, and boards.

 Open VRM: A (zero-cost) vendor risk management (VRM) platform that can be leveraged by clients and their vendors to save time and resources managing vendor risk.

 FCI: An MSSP delivering zero-trust integrated, automated cybersecurity solutions that fill control gaps across endpoints, networks, applications, and users.

Topics: #NAIFAProud Data Security
2 min read


By NAIFA-Texas on 3/21/24 10:21 AM


The Congressional Conference is a NAIFA members' best opportunity to experience the power of grassroots advocacy first-hand in our nation's capital. Attendees really do make a difference on behalf of their businesses, clients, and communities. Networking allows them to be inspired and share ideas with politically involved colleagues. Training, policy briefings, and expert speakers give them the knowledge and guidance they need to be effective advocates. Meetings with lawmakers allow NAIFA members to speak with a unified voice and forge meaningful relationships with people whose decisions impact the financial security of every American.

If you, as a NAIFA leader, are not registered to attend the Congressional Conference May 20-21, please sign up today. Also, be sure to spread the word. The more people who attend, the louder and more influential our voice. Let's represent NAIFA, NAIFA-Texas and our clients!

Register for Congressional Conference


Topics: Advocacy #NAIFAProud Federal Advocacy Grassroots Congressional Conference
3 min read


By NAIFA-Texas on 3/21/24 10:17 AM


NAIFA-Texas members, mark your calendars for April 11th at 11:00 AM Central (12 pm Eastern) for the Q2 State of NAIFA webinar. Learn about the latest on NAIFA’s progress, advocacy efforts, and how you can get the most out of your membership.

This 30-minute webinar will feature insights from Tom Cothron, NAIFA President, Kevin Mayeux, NAIFA CEO, and Diane Boyle, NAIFA SVP of Government Relations. They'll provide a comprehensive update on NAIFA's current position, our advocacy work, and  NAIFA programs aimed at supporting your professional development.

Attending is key to staying informed about the latest NAIFA initiatives and understanding how these efforts contribute to the financial services profession. If you're unable to join live, simply register for the event, and national will send you the recording to ensure you don’t miss out on this valuable webinar.

This webinar represents an important opportunity for all members to engage directly with NAIFA's leadership, to gain insights into our collective progress, and to see how together, we're shaping the future of our industry. 

The quarterly State of NAIFA reports demonstrate NAIFA's commitment to transparency. They are also a great way for leaders and members to stay abreast of everything going on with their association. The online event is open to anyone interested in NAIFA's success, so please invite members and nonmembers, alike.


Topics: Advocacy #NAIFAProud Leadership 2025 Strategic Plan
7 min read

NAIFA-Dallas Annual Awards & Celebration of Achievement Dinner

By NAIFA-Texas on 3/19/24 10:03 AM

NAIFA-Dallas held their 2024 Annual Awards & Celebration of Achievement Dinner on March 7, 2024 to present the Mel Meyers Member of the Year award and the OC Jackson Hall of Fame Award. 

Topics: #NAIFAProud Awards Membership NAIFA-Dallas
3 min read


By NAIFA-Texas on 3/14/24 9:09 AM


Awards applications are starting to roll in for 2024. Don't miss your opportunity to shine! We are pleased to announce a new category for the NAIFA Quality Award. We have launched an Emeritus category for members who are at least 60 years old and who have previously qualified for NQA for a minimum of 15 years.

NAIFA's awards provide an opportunity for our members to differentiate themselves from the crowd and receive national recognition for their contributions. All awards are found in NAIFA's Talent Development Center.

All of the awards will close their application/nomination process on May 31, 2024. Please note the slightly shortened time frame of the awards' window due to the Belong Awards Celebration being held in conjunction with Apex 24. 

Recipients will be recognized during the 2024 Belong Awards Celebration on September 21, 2024, during Apex at the Arizona Biltmore in Phoenix.

Explore these awards and learn more about our 2023 recipients.

John Newton Russell Memorial Award

Terry Headley Lifetime Defender Award

NAIFA Quality Award

Advisor Today's 4 Under 40 Nomination

YAT Leader of the Year

Diversity Champion

Topics: #NAIFAProud Awards Leadership NAIFA Texas