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AFA Advocacy Plus Newsletter

Advocacy Activities – July 2021

Federal – Legislative

Introducing Senate Concurrent Resolution 10!
The Alliance is excited to share that the Fraternal Congressional Resolution has been re-introduced for 2021! Senate Concurrent Resolution 10 is sponsored by Senator Debbie Stabenow and Senator Mike Crapo. The resolution is a key part of our federal advocacy strategy to increase awareness of the fraternal benefit system and the importance of the 501 (c)(8) tax exemption in allowing fraternals to give back to our communities. It is a critical step forward in developing strong legislative champions in Washington. The team expects a House version soon.

Special thanks to the Alliance’s Advocacy and Policy Committee, the STEP UP Task Force, and the government affairs executives who all play a key role in building our network of legislative supporters. Advocacy is a team effort, and we are grateful for your trust and assistance.

Fraternal Congressional Resolution

Federal – Demonstrating Impact

COVID-19 Community Corps
The Alliance continues to engage with the US Department of Health and Human Services (HHS) to learn how participating societies can join the national effort to help our communities get back to normal by providing education on vaccination safety and access.

COVID Corps

All Alliance members are invited to participate in the next Corps update on July 20 at 1:00 p.m. Central. This call is internal and will feature Alliance CEO Allison Koppel and Drew Goesl, our federal lobbyist, discussing the latest in activations and opportunities. Plus, you will hear an exciting update about one fraternal planning pop-up vaccination sites at their home office! Please email Elizabeth Patel at epatel@fraternalalliance.org for call details. (Use #LiveFraternally when posting any activities on social media about your vaccination efforts.)

Regulatory

NAIC Adopts ACLI-Proposed C-1 Bond Factors and Portfolio Adjustment Factors
On June 30, the NAIC’s Capital Adequacy Task Force adopted revised C-1 bond factors and portfolio adjustment factors (2021-11-L) based on the preferable ACLI proposal supported by the greater life insurance industry (which included a small financial contribution from the Alliance). This outcome is a success for the coalition that worked over many years to provide an alternative to the proposal. The ACLI proposal provided regulators with clear information on model and framework limitations along with a longer-term option to modernize RBC treatment of newer asset classes. Thank you to our fraternal leaders who responded to our call to action and contacted their state regulators and the NAIC about supporting the ACLI proposal. The years-long issue has come to a resolution, and the collaboration shown by industry friends, business partners, and regulators resulted in a more favorable outcome. For more details, please review this alert sent on July 1.

Alliance Shares Fraternal Model with Illinois DOI Director
On June 10, the Alliance coordinated a call with the new Illinois Acting Director of Insurance Dana Severinghaus, her staff, and our IL-domiciled CEOs. A few planning calls were held with our leaders prior to the 30-minute call with the DOI team. During the call, Ms. Severinghaus said she appreciated learning more about the fraternal model, and she is looking forward to a positive and communicative relationship with our members.


Connecting & Collaboration

Executive Summit Brings Together Fraternal CEOs This September

The Alliance’s Executive Summit & Annual Business Meeting is happening – live and in-person.
September 20-22, 2021 | Hyatt Lost Pines, Texas.

This invitation-only event for fraternal CEOs will provide outstanding educational sessions and much-needed networking options. Hear from our leaders and subject matter experts on recent reinsurance deals, how to manage your team in a post-COVID environment, and how a diverse and inclusive environment can be achieved within the fraternal model. With plenty of opportunity to network, the Executive Summit will hit the right balance of education and rejuvenation.

Executive Summit

Fraternal CEOs and their approved C Suite executives can request the registration link by emailing info@fraternalalliance.org.

Alliance Virtual Education

Claims Payment Best Practices – Compliance Webinar #2 of 5:

August 25, 2021 | 1:00 - 1:45 p.m. Central

This webinar will review the state timelines within which to acknowledge a claim and the initial communication requirements a carrier must give to the claimant.

PRCU.

Fraternal Benefit Society News

First Catholic Slovak Ladies Association becomes FCSLA Life, highlighting their mission to provide financial security to members while embracing values and traditions of over 129 years

FCSLA Life is proud to announce this new name and look for the fraternal benefit society. This supports its mission to provide financial security to members while embracing Catholic values and Slavic traditions. The announcement is an exciting development in the growth and maturation of the organization. Read More

National Catholic Society of Foresters modernizes distribution with Breathe Life

NSCF selected Breathe Life following a review of multiple technology providers for its modern approach to insurance distribution and shared values. Read More

Tony Minopoli on the markets (Radio)

Tony Minopoli, President and CIO at Knights of Columbus Asset Advisors, discusses the latest on the markets with Rishaad Salamat and Bryan Curtis on Bloomberg Daybreak Asia. Listen Here

Foresters Financial launches discounts on popular consumer products, events and experiences from top brands

Foresters Financial announced the launch of MemberDeals. This new benefit helps Foresters members live well and save money through access to many thousands of products and services at lower than retail prices, including events and experiences from top consumer brands, via the Foresters member portal (MyForesters.com). Read More

Foresters Financial again makes it easier for Americans living with type 2 diabetes to access non-medical life insurance

Effective June 28, 2021, Foresters announced that it continues to lead in expanding the availability of life insurance to Americans living with type 2 diabetes. Read More


Associate Member News

The reality behind SaaS policy admin vendor claims – Equisoft

Every PAS vendor makes the same claims about their solutions, and it can be hard to distinguish fact from fiction. For fraternal organizations working within resource constraints, the risks of making a long-lasting modernization mistake are even more pronounced. That’s why we’ve compiled 12 specific, smart questions that fraternal leaders can ask during the vendor selection process to get beyond a company’s assertions and unearth the truth about their ability to meet your specific needs. Read More


Regulation

Protect Against the Threat of Ransomware: White House Memo

Due to the growing prevalence and impact of ransomware attacks in the U.S. (including some high-profile cases at insurers), the White House has issued an important memo on steps that can be taken by companies to protect themselves against the threat of ransomware. Read here

PNA Celebrating the 4th of July.

Thank You to Our Sponsors

Platinum Sponsor:

Wellington Management

Titanium Sponsor:

Parkaway Advisors

Gold Sponsors:

RSM Heritage Life Insurance Company Balanced Growth Consulting Allen Bailey & Associates, Inc.

American Fraternal Alliance
PO Box 68700, Indianapolis, IN 46268-0700 | 20 F Street NW, Suite 510, Washington, DC 20001
630-522-6322
| fraternalalliance.org

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