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"The epitome of everything wrong with corporate America"

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Attendees at NAILBA 28, held this week in balmy Hollywood, Fla., were offered a few choice thoughts about the economy and the business, according to reporter Linda Koco.

Leon Huffman, co-chair of the NAILBA government affairs committee and president of Huffman & Associates, Orlando, Fla., reviewed how developments in the economy and Congress are affecting the insurance business. The financial services industry “is portrayed as the epitome of everything wrong with corporate America,” he said. The government is “making aggressive moves to regulate our business, our fiduciary role, our suitability role, and even our supervisory responsibility over our own agencies.” After discussing many threats to the business, he urged NAILBA members to help NAILBA present the industry’s views. “We can’t do it alone. We need you to fight too. Silence is not an option.”

Jack Chiasson, exec director of NAILBA, said the fastest growing area of responsibility of NAILBA is “protecting the interests of the independent distribution channel.”

Chiasson also announced that NAILBA is has debuted a new Web site and a new logo, in recognition of the fact that the 28-year-old association is “now an adult.”

Keynote speaker was Dan Pink, the author of “A Whole New Mind: Why Right Brain Minds Will Rule the World.” Routine work, which is performed by the left brain, increasingly will be sent to other countries where it can be done cheaper, he said. But work done by the right brain–artistic, inventive, innovative work–will be at a premium he said. This includes financial innovation. And in today’s level of disruption, financial innovation is needed more than ever.


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