The Big I had participated in the lawsuits challenging the DOL overtime rule
With just a week to go before the implementation of the new and somewhat controversial “Overtime, Rule,” a U.S. District Court Judge has brought it all to a halt.
In response to lawsuits filed by over 55 business groups, including the IIABA, as well as 21 state governments, U.S. District Court Judge Amos Mazzant has granted an injunction to stop the implementation of the U.S. Department’s overtime rule, pending the outcome of this litigation. In response to this decision, Charles Symington, Big “I” senior vice president of external and government affairs issued the following statement:
“The Big ‘I’ is pleased with U.S. District Court Judge Amos Mazzant’s decision to grant an injunction to stop the U.S. Department of Labor’s (DOL) overtime rule from taking effect pending the outcome of ongoing litigation. Earlier this year, the Big ‘I’ joined more than 55 other business groups, as well as 21 state governments, in filing lawsuits challenging the DOL overtime rule. The rule, should it go into effect, will have a significant impact on many Big ‘I’ agencies and their small business and non-profit clients. As litigation continues, the Big ‘I’—the only insurance trade association to sue the DOL—will continue to use all means necessary to fight this overly burdensome rule.”
Lawsuits were filed in September of this year
In September of this year, a coalition of various organizations and trade associations, filed suit against the Department of Labor, alleging that its recently promulgated rule regarding overtime is too burdensome on small businesses.
The Independent Insurance Agents & Brokers of America (the IIABA or Big “I”), along with the U.S. Chamber of Commerce and 12 other national trade associations, filed suit on behalf of thousands of independent insurance agencies the Big I claim will be adversely affected by this new rule. In explaining the Big “I”‘s decision to join this suit, Bob Rusbuldt, Big “I” President and CEO said,
“This misguided overtime rule will negatively impact independent insurance agencies and their employees. The Big ‘I’ believes the lawsuit highlights the burdens this regulation places on many businesses across the country, and the harm it will do to many employees who will lose the flexibility and benefits traditionally associated with exempt employment positions. This rule is a jobs killer and it needs to be fixed.”
The Commonwealth of Massachusetts did not participate in the above lawsuit.