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Jan 04
Exemption to Small Business Reporting Requirement Secured

​The U.S. Senate and House of Representatives recently overrided the veto of the National Defense Authorization Act (NDAA). With this, the NDAA is now officially going to be set into law. 

Originally, the NDAA contained a new reporting requirement that would have been a hassle for all small businesses, including independent insurance agencies. However, Big "I" was able to earn an exemption to this legislation for independent agents and brokers by extensive communication and cooperation with key legislators. Big "I" made it clear that the information is already provided to state regulators, and providing it again to the federal government would just be a burden and unnecessary.

Sen. Mike Crapo (R-Idaho) and Rep. Carolyn Maloney (D-New York) both put a lot of effort into this provision, and Big "I" is very thankful. Both parties worked together in order to improve the NDAA legislations for independent agents. Another legislative victory for the Big "I" and independent agencies across the country.


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