PIA Advocacy
Annuities – Looking Out for the Consumer’s Best Interest
Annuities – Looking Out for the Consumer’s Best Interest By: Robert Procter & Judd Genda | Axley Attorneys Governor Evers just signed into law a bill that will change the standards for selling annuities in Wisconsin from a “suitability” to a “best interest” framework. The best interest standard comes from model regulation advanced by the…
Read MoreMore PIA-Backed Legislation Passes Legislature
In the last few weeks, the Wisconsin Assembly and Senate have each met twice to vote on a lengthy list of bills ahead of the upcoming holidays. We are pleased that two more PIA-backed bills made it to the finish line of the legislative process and are waiting for the final sign-off. First of these…
Read MoreProfessional Insurance Agents of Wisconsin Applauds Introduction of Legislation to Repeal the Federal Insurance Office
Left to right: Representative Tom Tiffany & Representative Ben Cline Madison, WI – Professional Insurance Agents of Wisconsin (PIAW) supports the “Federal Insurance Office Abolishment Act,” newly introduced in the U.S. House of Representatives by Rep. Ben Cline (R-VA) with Wisconsin Congressman Rep. Tom Tiffany (R-Minocqua) signing on as an original sponsor. “Wisconsin’s Office of…
Read MoreInsurance Cybersecurity Bill Signed, 2021 Wisconsin Act 73
Bipartisan legislation to address the rising concerns with cybersecurity in the insurance industry has now been signed into law as Wisconsin Act 73. PIA helped in crafting this law for Wisconsin from the NAIC model that has been passed in over a dozen other states, with many on track to follow. This law will help…
Read MoreCapitol Update: Personal Property Tax Repeal Gains Momentum
After a surprise finding of more funds than anticipated coming to Wisconsin, legislative efforts have been mounting towards passing a tax cut. Included in the Republican tax proposal is a full repeal of the personal property tax, a longstanding PIA priority. The personal property tax is considered by many to be extremely outdated and uneven.…
Read MoreCapitol Update – Biennial Budget Process
As the Wisconsin weather heats up, so has activity at our State Capitol. New legislation is constant and public hearings are happening almost daily. Meanwhile, the Joint Finance Committee has been meeting frequently, crafting the state budget piece by piece. Similar to the last budget process, the Joint Finance Committee (JFC) chose to revert the…
Read MoreCybersecurity Legislation Advances Out of Committee Process
After a few months of committee proceedings, Senate Bill 160/Assembly Bill 147 is advancing to the final stages of the legislative process. In the last update, the bill had undergone a hearing in the Senate, where PIA President Julie Ulset had testified. Since that time, the legislation passed unanimously out of committee in the Senate…
Read MoreOCI is Seeking Comment on Commercial Lines Modernization
The Office of the Commissioner of Insurance is seeking citizen and stakeholder comments on a proposed rule to exempt certain commercial property rates and forms from filing requirements. Read the notice here. In summary, the proposed rule will: Reduce the premium threshold for the rate filing exemption for coverages for general liability, commercial automobile, crime,…
Read MorePIA Testifies on Priority Legislation – April 7th Capitol Update
A few months into the Legislative Session and things at the Capitol are in full swing. There are now more than 20 bills that have been signed into law by the Governor, including two PIA priorities – and hopefully, more are on the way! Last week was an important step for PIA-backed Senate Bill 160/Assembly…
Read MorePIA Priority is First Bill Signed in 2021-22 Session – Capitol Update 2-18-21
It was a busy week in Wisconsin Government – and a productive one for PIA’s top priorities! Tuesday marked an important day as it was the Governor’s official budget address, but it was also a session day in both the Senate and Assembly. Several bills were up for debate in each house, but most notably…
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