February 13, 2019
Convention is next week!

It's not too late to register! Register online before 3:00 p.m. tomorrow (Thursday), or after tomorrow, print out a copy of the registration form and bring it with you to convention for at-door registration.
Send Your Charity Pics for Michigan Insurance Industry Economic Impact Report

As part of this year’s Michigan Insurance Industry Economic Impact report (prepared by Public Sector Consultants), we’re asking MAIA member agencies to share high resolution photos of their charity activities and events (for inclusion in the report). Please email to Jen Burnett no later than February 27. Thanks!
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Above, from left: MAIA Government Affairs Director Matt Wesolek, MAIA Legislative Committee Chair Rob Umstead, and MAIA Treasurer Will Lemanski at today's meeting.
MAIA Testifies at Senate Insurance and Banking Committee's No-Fault Meeting
The Senate Insurance and Banking Committee met Wednesday morning for the specific purpose of discussing PIP coverage/choice in connection with anticipated No-Fault Auto Insurance Reform language to later be incorporated in SB 1. MAIA was one of three groups invited to testify, along with Detroit Mayor Mike Duggan and the Mackinac Center for Public Policy. Your association continues to have a seat at the table as these important public policy decisions are discussed. 

MAIA Officer Will Lemanski, Legislative Committee Chair Rob Umstead, and Director Government Affairs Matt Wesolek testified on behalf of MAIA. The Committee was interested in learning about the decisions consumers must make because of the high cost of PIP premium. Mr. Lemanski and Mr. Umstead spoke of their experiences as independent insurance agents and the need to counsel and advise customers in making educated insurance decisions, especially if PIP choice becomes part of any proposed legislation. Reforming PIP to include Choice is a significant change to the understanding of no-fault coverage that most Michiganders know. As such, both agents reinforced support for the required coverage selection form that was included in reform language in the previous legislative session. They also addressed how the cost of PIP can lead to difficult decisions on selecting policy coverage. The full committee meeting can be viewed by clicking here. Note: MAIA’s participation is at the 1:01 hour mark on the video link. 

Mayor Duggan spoke at length about the challenges of no-fault insurance and PIP costs. His presentation included a history of PIP and the cost drivers behind the continuing rise of PIP premiums. (Hint: reasons he cited might include the trial attorneys and hospitals.) Click here to view the Mayor’s PowerPoint presentation or watch his presentation by clicking here

MAIA will continue to update you in the days (and likely months) ahead as both Chambers attempt to hammer out legislation on no-fault insurance reform. 
Big 'I' Posts Resources on New Tax Regulations
To help members understand recently passed regulations concerning a new tax deduction for “qualified business income” under Section 199A of the tax code, the Big “I” has posted several new resources on their website. Materials include:

  • A recording of the 30-minute webinar the Big “I” recently hosted (for any members who were not able to attend).

  • A PowerPoint presentation that provides a comprehensive explanation of how the new tax deduction benefits pass-through owners and shareholders, including discussion of the specific sections of the over 200-page regulation relevant to insurance agencies and brokerages.

  • A one-page overview of the new tax rate for C-corporations and the new tax deduction available to some pass-through businesses.

  • A four-page FAQ document that outlines the must-know facts about the new 199A deduction.
Help Spread the Word About Michigan's Independent Insurance Agents Day
As noted in our January 25 News Now, one of Governor Gretchen Whitmer’s first state proclamations was to name February 20, 2019 Independent Insurance Agents Day in Michigan.

The proclamation recognizes both the economic and the personal impact independent agents make in their communities every day.

Help get the word out February 20; click below for graphics and sample posting content you can use on social media!
Secretary of State Announcing Down Times As Computer System Upgrades Occur
This weekend, the Michigan Department of State will be replacing the outdated vehicle records system Secretary of State offices have used for decades with a modern computer system that will better serve customers.

During the upgrade, Secretary of State branch offices, online services and auto business transactions will be offline and unavailable from 5 p.m. Friday, February 15, until 9 a.m. Tuesday, February 19. Self-service kiosks will be taken offline in phases that began last Friday, February 8.

For complete information on the upgrade process, click here.
 
Thank you for being an MAIA Member!