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Proposed legislation could drastically affect insurance employment

March 4, 2021

A trade group representing insurance professionals has warned that a proposed US House bill could reclassify insurance agents, brokers, and even financial advisors as employees, instead of independent contractors.

The National Association of Insurance and Financial Advisors (NAIFA) is requesting its members to help it lobby for changes to the “Protecting the Right to Organize (PRO) Act” bill, as well as a US Senate PRO Act companion bill, ThinkAdvisor reported.

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