In a recent 10-minute video discussion, NAIFA-New Jersey Membership Chair Ryan Ross is joined by the chapter’s lobbyist, Paul Brent, and NAIFA member Matt Simon to discuss the state’s independent contractor rule and what potential changes could mean for insurance and financial professionals.
The conversation focused on New Jersey’s ABC test, which is used to determine whether a worker is classified as an employee or an independent contractor. For insurance producers who have traditionally operated as independent contractors, questions surrounding how the rule may be interpreted are especially important. The speakers discuss how changes to that model could affect the way financial professionals conduct business and work with the carriers and companies whose products they offer.
Simon also emphasizes that the broader issue ultimately comes back to serving clients. Financial professionals need the ability to evaluate products and policies from different providers and help clients identify solutions that best fit their individual needs.
Watch the full video to learn more about the independent contractor rule and why NAIFA-New Jersey is closely engaged on the issue.