Your vote still counts

The final votes from November’s midterm elections may have been tallied, yet the real political campaigning should be just about ready to begin.

As expected, elections changed key roles in in the House and Senate that will undoubtedly have consequences on the federal agenda. Almost more important than those changes, however, is that the outcome of the elections, including several new governorships, has the potential to change the positions of state insurance regulators and to determine key issues affecting the insurance industry’s agenda.

Take, for example, the election in the West’s largest state, California. While the insurance commissioner’s post is not appointed, the insurance industry is hoping it will face a more responsive regulator in 2007. Newly elected Insurance Commissioner Steve Poizner, a former Silicon Valley entrepreneur, is poised to bring a more business-friendly perspective to the regulatory position. As was illustrated in his refusal to accept campaign contributions from the insurance industry (while his opponent did, then gave back), the hope is that this independent small-businessman will remain unbiased and keep in mind the needs of consumers — and the companies that are essential to California’s economy.

“The election of Steve Poizner … is a welcome change for California consumers and the insurance industry. Unlike Commissioner Garamendi, Mr. Poizner will be a tough but fair regulator who will not use the California Department of Insurance for his own political purposes,” the Western Insurance Agents Association (WIAA) said in a statement.

If the change in commissioner isn’t enough to help those in California’s insurance industry to breath a bit easier, industry associations expect fresh blood on the state Senate Banking, Finance and Insurance Committee to create a more moderate environment in which the industry can operate. Democrat Jackie Speier is being replaced by Assemblyman Leland Yee, D-San Mateo. It’s uncertain who will replace Speier on the Committee just yet, but “just about anyone would be an improvement” compared to someone who was seen as “tough” on the industry, according to one industry insider.

New leaders in government may spell an uncertain industry future. Yet the change in the guard also should signal the crucial opportunity in which agents, brokers and others in the insurance industry have to convey their messages to legislators and regulators who are willing to “lend their ears.” After all, it’s only by communicating with these new officials that the industry is likely to have more impact on public policy.

Several state insurance associations have already wisely sent letters to Poizner congratulating him on his win — and offering to be of service. Likewise, it’s important for individuals to take part in the political process, too. New leaders undoubtedly will need to become more educated on whatever issues are important to agents and brokers. But if individuals can help humanize a complex insurance issue, officials will be more likely to respond to those consumers.

So don’t brush-off the impact each individual — you — can have on the industry. The midterm elections may be over. But remember, your vote is just beginning to count.