WASHINGTON, D.C., March 8, 2019 —The Independent Insurance Agents & Brokers of America (the Big “I") today released the following statement by Charles Symington, Big “I" senior vice president of external, industry & government affairs:
“Yesterday the Department of Labor (DOL) released a notice of proposed rulemaking to update federal overtime regulations. Previously the Big 'I' joined more than 55 other business groups, as well as 21 state governments, in filing a legal challenge against the DOL related to a 2016 overtime regulation. The Big 'I' was the only insurance trade association to sue the DOL. In November 2016, the U.S. District Court of the Eastern District of Texas granted an injunction to stop a previous overtime rule from taking place. As a result of the lawsuit, the DOL worked to revise the previous rule within the bounds of the Fair Labor Standards Act. The Big 'I' is currently reviewing the new proposal and looks forward to working with the Trump Administration and Congress to ensure that any final overtime regulations work for all insurance agencies and brokerages and their employees."
Founded in 1896, the Independent Insurance Agents & Brokers of America (the Big “I") is the nation's oldest and largest national association of independent insurance agents and brokers, representing more than 25,000 agency locations united under the Trusted Choice brand. Trusted Choice independent agents offer consumers all types of insurance—property, casualty, life, health, employee benefit plans and retirement products—from a variety of insurance companies.