The Texas Department of Insurance has issued a bulletin listing major changes to agent licensing provisions during the 87th Legislature. Those include:
The 87th Texas Legislature is back in the Capitol today to start their first special session of the year. (Yes, that means there are more to come!)
Governor Abbott called the legislature back to Austin to address certain legislative priorities that did failed to pass or were not addressed during the regular session. The call items for what the Texas House and Senate must pass can be found here. Items include banning the teaching of critical race theory in public schools, election and voting protocols, social media censorship, bail reform, and more.
NAIFA-Texas will be monitoring the special session and providing updates to our membership.
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On June 8th, NAIFA-Texas members participated in the comeback of our Quarterly Lobbyist Updates. NAIFA-Texas lobbyist, Elizabeth Hadley, delivered a very comprehensive breakdown of bills our association had been working on, as well as, other big ticket priorities (COVID-19 relief, ERCOT reform, health care expansion, broadband expansion, voting integrity, etc.) for Speaker Dade Phelan, Lt. Governor Dan Patrick, and Governor Greg Abbott.
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NAIFA-Texas has been hard at work ensuring that the Texas legislature adopts the National Association of Insurance Commissioners (NAIC) model for a “Best Interest” standard for annuity products this legislative session. Partnering with Texas Association of Life and Health Insurers (TAHLI), we have met with multiple offices and other stakeholders to ensure clarity and support from those within the Texas Capitol. State Rep. Tom Oliverson, M.D. (R-Cypress), chair of the Texas House Insurance Committee is the bill's author.
On March 23, 2021, Jason Talley, NAIFA-Texas Past President, represented NAIFA-Texas by testifying in support of HB 1777 before the Texas House Insurance Committee. This bill passed unanimously out of committee and passed in the Texas House 144-1. Once it reached the Texas Senate, it was referred to the Senate Committee on Business & Commerce. Due to a time constraint before the first bill filing deadline of the session in early March, there was no Senate companion bill nor a Senate author. NAIFA-Texas and TALHI were able to get Chairman Kelly Hancock (R-Fort Worth) to carry this bill in his own committee. On May 13, 2021, this bill was heard in a formal hearing where NAIFA-Texas submitted written testimony in support. There was no opposition.