Leadership Training
The NAIFA-Texas Career Conference and Annual Meeting opened Sunday, July 22 when nearly fifty local association leaders arrived for a full day of leadership training. From hands-on strategic planning sessions to breakout sessions on technology, membership, and advocacy, leaders left better equipped for the year ahead.

Speakers
Monday morning brought the remainder of attendees and a lineup of fantastic speakers. Danny "Mr. Annuity" Fisher extolled the virtues of great customer service while Ryan Pinney, in his presentation "Building a 21st Century Agency," shared his successes in online marketing. Pinney urged his audience to know all of their metrics, and "test, test, test!" Incredulous looks filled the room as Pinney explained that through A/B testing, his team realized a 7% increase in returned applications by substituting a green check mark in place of a red "x." Capping off the speaker series Tuesday morning was Jim Bob Solsbery, who had attendees laughing -- and nearly crying -- as he inspired others to adopt humor as an attitude.

Legislative Luncheon
Texas Land Commissioner Jerry Patterson, candidate for Lieutenant Governor in 2014, provided the keynote address at Tuesday's Legislative Luncheon. His pointed stories of political figures and Texas history did not disappoint.

Official Business

Top: Boozer will serve as Secretary/Treasurer for 2012-2013. Bottom: Talley plans to run for the position in 2013.

State officers and trustees were elected at the annual business meeting and installed later that evening in the company of family and association friends. In the contested race for Secretary/Treasurer between Lane Boozer and Jason Talley, Boozer ultimately prevailed. Talley, in a message to the 2012 Delegate Council, congratulated Boozer on his successful race. Talley said he would be a candidate in 2013 for the Secretary/Treasurer position and looks forward to continuing to serve as Government Relations chair and Trustee. The NAIFA-Texas Board also elected Talley to his second consecutive term on the NAIFA-Texas Executive Committee.

The NAIFA-Texas Board for 2012-2013 will consist of: Doug Massey, President; Joey Ussery, President-Elect; Lane Boozer, Secretary/Treasurer; Ron Mullen, National Committeeperson; Stephen Ehlers, Immediate Past President; and Trustees John Connally, Michael Kennedy, Alan Kifer, Wes McKnight, Randy Robertson, Jason Talley, and Eddie Tate, Jr.

Award Recipients

Two prestigious awards were presented to two highly deserving individuals on Tuesday. Dee Carter, CLU, ChFC, CSA, RFC received the NAIFA-TX Lifetime Achievement Award, honoring his oustanding service to the NAIFA organization and excellence achieved in his profession. Keith White received the NAIFA-Great Southwest Bruce Murray Tall Texan Award, an honor based upon the demonstration of political involvement, general association involvement, community service, education, and membership.

Dee Carter took home the assocation's highest honor, the Lifetime Achievement Award. From left: John Ruckel, Stephen Ehlers, Dee Carter, Ken Tooley, and Tom Currey.

Networking
On top of everything else, everyone took time to embrace the theme for the conference and CONNECT with exhibitors and fellow NAIFA members. Thank you again to our sponsors and our attendees -- we hope you had a wonderful time!

NAIFA-Texas is seven leaders stronger! Congratulations to the LILI Class of 2012:

Director of LILI Jean Barr

Glenda R. Brooks, NAIFA-Greater East Texas; Luis A. Estrada, NAIFA-Austin; Lauren P. Foland, NAIFA-Dallas; Beverly A. Norman, NAIFA-Dallas; Keith D. Reed, NAIFA-Waco; Angela M. Lamb, NAIFA-Fort Worth; and Alan C. Kifer, MSFS, CFP, RFC, LUTCF, NAIFA-Houston.

The LILI Class held its final day-long class session concurrent to NAIFA-Texas Conference activities July 23 and graduated its class later that evening. Director of LILI Jean Barr was on hand to deliver the commencement address and assist in the presentation of graduation certificates.

The mission of LILI is to develop leaders by fostering personal growth, enhancing business practices, and developing skills necessary for effective leadership. The NAIFA-Texas LILI Class of 2013 will begin August 20 at the NAIFA-TX offices in Austin.

Left to right: Estrada, Brooks, Foland, Kifer, Lamb, Norman, and Reed.

Episode 1: NAIFA 2012 Career Conference & Annual Meeting

For more information: Check out the NAIFA 2012 schedule and register to join your colleagues at Caesars Palace Las Vegas at www.naifa.org/conference.

A client contacted his agent and requested a change in the beneficiary for several of his life insurance policies and variable annuities. The agent documented the request and started to work on the changes, but got busy and failed to execute the changes prior to the client's death. As a result, the client's current wife is suing the client's first wife for the death benefits under the life insurance policies and variable annuities. The agent has been sued, desposed and is now a trial witness and must provide proof of the client's request.

Risk Management Tip:

The National Association of Insurance Commissioners (NAIC) was in a sticky situation regarding its regulatory oversight stance last week with regard to statements by a top official concerning implementation of the health insurance exchange provisions of the Patient Protection and Affordable Care Act (ACA). Full story.

Few threats are scarier to the average independent life insurance producer than the potential banning of commission-based compensation for insurance product sales. And the prospect of adapting from a suitability standard of care to a fiduciary standard opens up another can of worms. Full story.

The National Association of Insurance Commissioners (NAIC) is trying to figure out if medical loss ratio (MLR) rebate payments reflected in the numerator prior to 2014 also should be reflected in the numerator in 2014 and 2015, if they represent an incurred rebate for one of the three calendar years in the current year's MLR calculation. Full story.

After over two years of discussion and several revisions, FINRA's revised rules governing suitability and "know your customer" obligations became effective on July 9, 2012. For the most part, the new FINRA rules-Rule 2111 (Suitability) and Rule 2090 (Know Your Customer)-are an effort by FINRA to incorporate existing NASD and NYSE rules and regulatory interpretations on these topics into the consolidated FINRA rulebook. However, the revised rules do also create certain new obligations for broker-dealers and registered representatives that are raising some concerns among parties regulated by FINRA. Full story.

In a letter to U.S. Health and Human Services Secretary Kathleen Sebelius, Governor Rick Perry stated that Texas will not set up a state-run health insurance exchange or expand Medicaid, two key provisions in President Obama's health care plan. Full story.

Senator Jane Nelson

Last week, Senator Jane Nelson (District 12) presided over a hearing on the impact of the federal Affordable Care Act (ACA) in Texas. The Senate Committee on Health and Human Services, which Senator Nelson chairs, met jointly with the Senate State Affairs Committee to hear testimony from the public, as well as from state insurance and health agencies.

"I am very concerned about the serious problems this law will create for our economy, our budget, and our overburdened health care system," said Senator Nelson. "Our Medicaid costs continue to rise, diverting resources away from education and other priorities. We cannot consider a massive Medicaid expansion without also addressing the core problems that are making it financially unsustainable." Prior to the next legislative session, the panel will file a report on the impact of the ACA on insurance regulations, Medicaid and CHIP, health care quality and workforce, and Texas' budget.