What Insurers Need to Know About the Elections

2020 is an unusual election year, with many high-level outcomes still undetermined weeks after the polls closed. Despite this uncertainty, insurance industry stakeholders need to look ahead to the future. Thought leaders from Faegre Drinker’s insurance team participated in a post-election roundtable — and have helpful insights to share as we head into 2021.

At this point in the election cycle, we would be traditionally talking about the elections in the past tense. But among the many unique and interesting aspects of the 2020 elections is that the outcomes are still coming in, and in meaningful ways. President-elect Biden is proceeding to plan for the transition and has started to name key officials, although President Trump continues to mount challenges unlikely to impact the outcome but with the potential to affect the transition. Meanwhile, Georgia’s two Senate runoffs in January will determine control of that chamber.

Nevertheless, the insurance industry, like all stakeholders, needs to plan and look forward. Our team has been doing so, and received some industry resources in the form of insights from a recent post-election roundtable, co-sponsored by the Networks Financial Institute at Indiana State University’s Scott College of Business. Here are some of the key takeaways from our forum, which brought together a diverse set of perspectives from across the insurance industry:

Read the full article on the Faegre Drinker website.

About the Author: Patrick D. Hughes

Pat Hughes is a strategic advisor, public policy advocate and regulatory attorney for insurance industry clients across all product lines and services. Clients turn to Pat when important regulatory, legislative and policy matters in various arenas — state and federal agencies, the NAIC, legislatures and international regulatory bodies — create challenges or opportunities for their businesses. He leverages a dynamic, multijurisdictional Faegre Drinker team that is able to deploy proactive national and local regulatory and public policy strategies where clients’ needs are most complex and significant. Visit Patrick's full bio on the Faegre Drinker website.

About the Author: Kacey E. Stotler

Kacey Stotler serves the insurance industry as a public policy advocate and strategic advisor. She helps clients plan and execute government advocacy strategies, understand legislative developments and manage coalitions. Kacey also works on a series of engagements designed to improve health insurance and health insurance access across commercial and government markets. Visit Kasey's full bio on the Faegre Drinker website.

About the Author: Joshua L. Andrews

Josh Andrews helps clients identify and prepare for legislative challenges and opportunities on a wide range of issues. Drawing from his background as an operative in both chambers of Congress, he helps prepare and execute comprehensive federal affairs strategies that advance clients' goals. Visit Joshua's full bio on the Faegre Drinker website.

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