By John Hilton
October 30, 2018
NEW YORK -- Next
Tuesday is sure to be a wild Election Day, and there are enough important
issues on the table to keep life insurers fully engaged.
In fact, if control
of Congress changes in any way, a very real possibility, insurer teams will
likely have to retrace lobbying steps, said a panelist Monday at LIMRA's 2018
Annual Conference.
"Most
lawmakers and their staffs are not insurance people," said Carolyn Coda,
deputy head of Americas Regulatory Affairs at Swiss Re. "When you have
that type of turnover, it all goes back to square one and you have to start all
over again."
The Regulatory and
Legislative Terrain panel was subtitled "evolving and uncertain." A
very appropriate assessment of the political climate in Washington, D.C.
With one week until
the midterm election, the Democrats are favorites to take control of the House
of Representatives, while Republicans are expected to retain Senate control.
But panelists
cautioned that the 2016 election of President Donald Trump rendered any and all
predictions guesses at best.
Whatever happens,
Randy Hardock, partner at Davis & Harman, said the atmosphere isn't likely
to improve.
"It's worse
than I've ever seen it in almost 40 years in Washingston," he said.
"Democrats and Republicans in Congress are afraid of alienating their
base. The key is to have your ideas developed so people can understand
them."
If Democrats do win
the House, "where does the soul of the party lie?" asked Bridget
Hagan, partner at The Cypress Group, a lobbying firm. Progressives could box
moderate Democrats in through the 2020 presidential campaign, she explained.
Harman vowed to be
long asleep by the time the election results are confirmed next Tuesday. But he
offered viewing night tips for those who do stay up.
"Ignore the
fact that the Democrats are winning all the early races," he said, noting
the early races are from the northeast, where Democrats run strong. "The
first race to watch is in Florida. If either Sen. Nelson or his Republican
challenger are ahead in Florida, that could be a bellwether for what's
happening elsewhere."
The GOP is polling
very well in its bid to hold the Senate, despite the high-profile campaign
being waged in Texas by Democratic Rep. Beto O'Rourke in challenging Sen. Ted
Cruz, R.
"If (Republicans)
lose the Texas seat then we have had a sea change in our country," Harman
said. "And it may be coming, but I don't think we're there yet."
The election will
be followed by a lame-duck session and that does not mean a cessation of
hostilities, he added.
"This lame
duck session was going to be controversial no matter what," Harman said.
"This president is itching for a fight on the border wall, and I think the
Democrats are eager to give it to him."
InsuranceNewsNet Senior Editor John Hilton has covered business
and other beats in more than 20 years of daily journalism. John may be reached
at john.hilton@innfeedback.com. Follow him
on Twitter @INNJohnH.
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