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Elections have consequences

On Tuesday November 3rd, 2020 millions of Americans will go to the polls to cast their votes in this election. There are many consequences to these election outcomes and probably not the ones that everyone talks the most about.

The Presidential election of course will consume most of the airtime followed by the races for US Congress and Senate. But the most important races when it comes to insurance are the local state races. The insurance industry is largely regulated by the state and the choices made here could have a huge impact on your budget and the outcome of claims.

In Florida for instance, there is always talk of reforming the state legislation and regulation of insurance carriers each year. As an independent agent we belong to the Florida Association of Insurance Agents (FAIA) which lobbies on our behalf. There are also consumer advocate groups and lobbying groups for carriers and direct writers as well.

Through the combined efforts of these different entities along with special interest groups of contractors and trial lawyers and others, legislation is formed. Some of it is widely supported and sometimes it is controversial and the parties split. This also impacts the way the political parties view those interested parties and how they raise money for those campaigns. FAIA for instance, has a history of supporting both Republican and Democrat candidates based on their experience and philosophies regarding insurance regulation.

On a personal note, I support the policies that create a healthier, more transparent, and more competitive insurance landscape. I think that philosophy lends itself to the best outcomes for all parties involved, especially the consumer. As a voter, you can also get involved and learn about the decisions being made in Tallahassee, FL. Just because your preferred candidate won/lost the election, doesn't mean the people in power will vote the way you expect them to.

If you are interested in hearing what isses the insurance consumer may be facing with upcoming legislative changes, send your questions to