Please Save the Date

Our Annual membership meeting and social will be held
Wednesday September 21st
Location and Time TBD
Raffles, Elections, Food and Fun to be had by all.
Please check back or look in your email (make sure we are not marked as SPAM) for more details to follow.
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What’s New with The Spencer Foundation

Our August newsletter highlights Foundation news and scholarship recipients.
In the news
Ron Davis
Foundation Chairman Ron Davis talks about Foundation's mission, attracting young people to the industry

In mid-July, Ron Davis spoke with Insurance Business. Here are two stories that resulted from that conversation:

"For a young person, when they think insurance ... it doesn't have a lot of pizzazz to it. But the insurance industry absolutely deserves the reputation of being a dynamic, fascinating, fulfilling, meaningful, society-contributing industry that presents some of the greatest opportunities there are in the business world."
"The challenge is that it's really not in scope for most young people. [But] it's an industry that needs talent, that needs people that have an eye for opportunity, are good with people, have good leadership skills, can make things happen, and have good project management skills. That's why it's exciting to be able to talk [to young people] about these things."
Ron also wrote a Linked In post, "The Insurance Industry is calling out to Millennials," where he shares his passion for the industry, highlights the industry's need for talent, and discusses why young people should consider a career in the industry.
Spencer Scholar profiles
Profile: Oleksandra Arkhangelska: Spencer Scholar & multi-cultural mastermind

Currently studying enterprise risk management at St. John's University, Oleksandra Arkhangelska has pursued her education and career in diverse places, including Ukraine, Germany and the United States. Now living in New York City, she brings in her multi-cultural perspectives into classes, work and life. Read More 
Nathan Coppernoll: Master's Scholar with Global Outlook

After working for a few years in the health insurance, Nathan Coppernoll decided to join the risk management industry to help mitigate the effect of different kinds of risks to benefit society. He will be attending the MBA program at the University of Wisconsin - Madison. Read More
Jacob Akstins: Baseball enthusiast, social action advocate, Spencer Scholar

A math and science enthusiast, Jacob Akstins studies actuarial science at the University of Illinois - Urbana Champaign. He loves baseball for its implications of math and analytics and enjoys extracurricular activities including serving as the President of his Actuarial Club. Read More
Jennie Lynn Martino: A challenge seeker and Spencer Scholar

Currently studying actuarial science at the School of Risk Management and Insurance of St. John's University, Jennie Martino is a leader in numerous activities and societies outside of classes. She enjoys the challenges of her school work, but also seeks to balance her time with different activities to bring out the positivity in her. 

 Read more
Seven weeks until our Gala
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Upcoming Events/Activities

Spencer Educational Foundation will participate in/attend the following upcoming meetings/events.We hope to see you there:

November 6-7 -- RIMS ERM Conference 
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Legislative Update

Advocacy Newsletter | July 2017

Register for the Legislative Summit
and check out new travel discounts

Legislative Summit

In this issue

  • Healthcare Reform Update
  • Congress Fails to Pass Flood Insurance Bill before August Recess
  • House Speaker Paul Ryan Drops Border-Adjusted Tax Proposal
  • CLAIM Act Introduced in House

Healthcare Reform Fails to Pass
U.S. Senators are now considering a bipartisan approach to healthcare reform after two failed attempts to pass legislation in the Senate before Senators began their annual August recess. Senator Lamar Alexander, R-Tennessee, said the Senate health committee will hold bipartisan healthcare hearings on how to repair the individual market in September. In the House, a group of 40 lawmakers known as the “Problem Solvers Caucus” from both parties endorsed an outline of ideas aimed at making urgent fixes to Obamacare.

Congress Fails to Pass Flood Insurance Bill before August Recess
After strong lobbying from RIMS and other stakeholders urging congress to reauthorize the National Flood Insurance Program (NFIP), Congress was unable to pass reauthorization legislation. Currently there are six bills in the House and three bills in the Senate that will need to pass in order to reauthorize the program before the September 30th deadline. RIMS will continue to advocate during August recess to help get these bills passed by September.

Paul Ryan Drops Border-Adjusted Tax Proposal
Republican leaders said on July 27th that the proposed border-adjusted tax will not be part of negotiations on how to overhaul the U.S. tax code. The “Big Six” Republican leaders, which includes House Speaker Paul Ryan, Ways and Means Chairman Kevin Brady, White House economic adviser Gary Cohn, Treasury Secretary Steven Mnuchin, Senate Majority Leader Mitch McConnell and Senate Finance Committee Chairman Orrin Hatch, said due to the unknowns associated with the border-adjusted tax, the group “had decided to set this policy aside in order to advance tax reform.”

CLAIM Act Introduced in House
In July, U.S. Representatives David Kustoff (R-TN) and Bill Foster (IL-11), introduced H.R. 3363, the Claims Licensing Advancement for Interstate Matters Act (CLAIM Act). The legislation aims to eliminate the current inconsistencies within the claims industry by requiring states to adopt uniform and reciprocal licensing laws for independent claims adjusters.

Currently, 34 states require independent adjusters to hold operational claims licenses, however there are numerous inconsistencies within state requirements which expose all adjusters to licensing and regulatory barriers when working across state lines. RIMS supported a similar bill in 2013 and will support this legislation as well.

*Due to Congressional Recess there will not be an August newsletter*

Remember to check out the RISK PAC Quarterly Newsletter!

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