As the federal government exercises more and more power over small business, the future of our industry becomes greatly dependent upon our ability to become engaged in the federal political process. The U.S. Congress regularly considers legislation that directly affects the livelihood of independent agents – from taxes, healthcare, and flood insurance to the overhaul of the insurance regulatory system. We are fortunate to have a strong federal government affairs team working for us through our membership in the Independent Insurance Agents & Brokers of America (IIABA). However, they can’t do it alone. It is vital that we, as small business owners and agents, play an active role in shaping the public policy debate and ultimately the laws that come out of Washington, D.C.
Through constant dialogue with Members of Congress and participation in numerous fundraising events, our federal government affairs staff has forged strong relationships with many influential policymakers and key congressional staff. That has been made possible in large part due to InsurPac, our federal political action committee. It solicits voluntary, personal contributions from agents throughout the country, and then distributes 100% of that money to Congressmen, Senators and candidates for federal office who support small business and the independent agency system. Fortunately InsurPac is one of the largest federal PACs in the insurance industry, and is by far the largest property-casualty agent PAC.
During the 2014 election cycle, more than 5,000 independent agents have come together to support InsurPac, helping it raise $1.8 million. Using those funds, InsurPac was able to support a total of 292 races, winning 272 of them for a strong 93% victory rate. Because InsurPac is so large, it is able to carry over a healthy balance each election cycle and “hit the ground running” with each new respective Congress. Opinions on issues are being shaped every day and we must continue to have a seat at the table to educate Members of Congress. That seat at the table is made possible, largely due to InsurPac.