Oxley to Address IIAA National Legislative Conference

January 17, 2002

Congressman Michael G. Oxley, chairman of the House Financial Services Committee, will address 800 independent insurance agents and brokers at the 26th Annual Independent Insurance Agents of America (IIAA) National Legislative Conference this spring. The 2002 IIAA legislative meeting will be held April 10-12 at the Capital Hilton Hotel in downtown Washington, D.C.

As the head of the Financial Services Committee, Oxley (R-Ohio) possesses considerable influence over insurance issues ranging from the pending congressional review of state insurance regulation versus federal oversight, to adoption of a terrorism reinsurance proposal, says IIAA CEO Robert A. Rusbuldt.

“No one in the House of Representatives holds more sway over insurance issues than Chairman Oxley,” said Rusbuldt. “Chairman Oxley will play a leading role as Congress returns to debating the terrorism reinsurance issue in the coming weeks. He also will be a key player in the emerging debate over what role, if any, that the federal government should have in the oversight or regulation of insurance.

“As supporters of state insurance regulation and bringing more uniformity to the current system, IIAA members will be extremely interested in Chairman Oxley’s insight on the debate over federal-versus-state regulation of the insurance industry. The chairman will be able to give IIAA members a complete insider’s perspective on what will certainly be a landmark debate for the industry.”

IIAA has worked closely with Oxley on a number of legislative issues, namely bank-insurance regulatory issues in the Gramm-Leach-Bliley Act, which modernized the financial services industry and established state regulation as the preeminent authority over bank-insurance activities; House passage of the Financial Services Antifraud Network Act (H.R. 1408) last year; and numerous other insurance and small business issues.

“Chairman Oxley was the key person in forging a compromise between agents and banks in the Gramm-Leach-Bliley Act. He always has been a key player on our issues, and he understands the concerns of agents-both from the insurance perspective and from the view as small business people. IIAA has enjoyed a great working relationship with Chairman Oxley and we look forward to his visit with our agents and brokers during the National Legislative Conference,” Rusbuldt stated.

Oxley was elected to the U.S. Congress in 1981. Prior to his political career, Oxley was a special agent with the Federal Bureau of Investigation. He was elected chairman of the Financial Services Committee by his peers in the House at the beginning of the current Congress.

Highlights of the 2002 National Legislative Conference will include an in-depth issues briefing session, the eighth annual IIAA Congressional Reception, additional appearances by several other high-profile political speakers discussing the important insurance and national issues confronting lawmakers and agents in Washington, and hundreds of meetings on Capitol Hill between IIAA agents and their elected representatives in Congress.

The 2002 legislative agenda on Capitol Hill will spotlight a number of agent and broker issues including insurance regulation, terrorism reinsurance legislation, tax cuts for small businesses, health insurance and managed care reform, medical and insurance privacy, retirement reform, natural disaster reform, flood insurance reform, and other pressing concerns.

Throughout the past 25 years, independent agents and brokers attending IIAA’s annual legislative meeting have heard from many prominent political leaders, including the last three sitting presidents — Ronald Reagan, George Bush and Bill Clinton –and then-Vice President Dan Quayle.

Oxley joins a stellar list of Capitol Hill political luminaries who addressed the IIAA National Legislative Conference. Prominent Congressional leaders who have spoken to IIAA members at the meeting in the past include former Democratic vice presidential candidate Sen. Joe Lieberman (Conn.); former Republican presidential candidate Sen. John McCain (Ariz.); Sen. Jim Bunning (R-Ky.); the last three House Speakers-Reps. Newt Gingrich (R-Ga.), Dennis Hastert (R-Ill.), and Tom Foley (D-Wash.); current Senate Majority Leader Tom Daschle (D-S.D.); former Senate Majority Leader George Mitchell (D-Maine); House Majority Leader Dick Armey (R-Texas); and House Majority Whip Tom Delay (R-Texas).

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