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THE VOICE OF TEXAS INSURANCE RE C O R D INSURANCE
WASHINGTON—The Independent Insurance Agents & Brokers of America (IIABA or the Big “I”), cheered United States Senators Jon Kyl (R-Ariz.) and Blanche Lincoln (D-Ark.) for introducing an amendment to H.R. 5297, the “Small Business Lending Fund Act of 2010,” that would permanently reform the federal estate tax.
What Kyl/Lincoln Does
The Kyl/Lincoln amendment would permanently set
the estate tax rate at 35%, with a $5 million exemption
amount phased in over 10 years and would be indexed for
inflation. In addition it would include an option for tax-
payers inheriting assets in 2010 to either retain this year’s
estate tax rate, which is zero percent, with a “carry over
basis” or file under the provisions of the bill.
“We applaud Senators Kyl and Lincoln for their efforts to bring attention to the plight of family-owned business and many independent insurance agents who are deeply impacted by the estate tax,” says Robert Rusbuldt, Big “I” president & CEO. “The Big ‘I’ supports their amendment and urges Congress to significantly reform the estate tax to encourage investment and growth in small business. This reform should come in the form of a decrease in the estate tax rate and/or increase in the exemption amount and should be indexed for inflation for the future.”
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In This Issue
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Electives Change in The CPCU Program
SELLING STRATEGIES:
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MALVERN, Pa.—In response to the needs of the property-casualty industry, The Institutes announced the following change to the Chartered Property Casualty Underwriter (CPCU) program. Working in close cooperation with industry professionals, designees, training experts, and the CPCU Society, the Institutes have modified the CPCU program to ensure that it continues to meet the industry’s needs in an ever-changing and competitive marketplace.
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Effective immediately, the CPCU program will include an elective component as a part of its Education requirement. Individuals pursuing the CPCU designation continued on page 20
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Get THE INSURANCE RECORD digital edition — online — every other ;ursday. Send your customer number (found on your mailing label) and your email address to: digital@spcpub.com to start receiving your online edition every issue. You’ll still receive your printed edition in the mail.
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