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PIA President Pile Addresses NAIC/Industry Producer Licensing Coalition

PIA National President Donna Pile addressed the inaugural meeting of the NAIC/Industry Producer Licensing Coalition on June 20, 2007 in Washington, D.C. Pile commended the...
June 26, 2007

PIA National President Donna Pile addressed the inaugural meeting of the NAIC/Industry Producer Licensing Coalition on June 20, 2007 in Washington, D.C. Pile commended the NAIC for the great strides we've made over the years on producer licensing issues and stressed the importance producer licensing procedures are to our membership. While acknowledging and praising the progress that has been made so far, Pile said more needs to be done and sounded a warning.

"We must address these issues now because time may be running out on our efforts to stave off federal intervention," said Pile. "We are excited about this effort undertaken by NAIC leadership, and we look forward to working with them to improve the licensing process for our members."

This first meeting of the NAIC/Industry Producer Licensing Coalition produced tangible results.  NAIC leadership is considering undertaking a process of re-certifying states on their Gramm-Leach-Bliley Act (GLBA) NARAB requirements. Before this process can begin, however, PIA, along with other interested industry participants, will provide input on what uniformity standards are most important and whether we should add standards to the current list.

President Pile assured NAIC Vice President and New Hampshire Insurance Commissioner Roger Sevigny and the rest of the group that PIA would fulfill our commitments to survey our members.  The idea for a re-certification process stems from the fact that even though most states are certified as GLBA compliant because they have the proper laws and/or regulations on their books, their interpretation of the laws and their procedures contradict the uniformity standards set forth in the Act, as well as the standards adopted by the State.

One of the many issues the coalition will address in the coming months will be the foreign corporation requirements that are increasingly becoming impediments to the non-resident licensing process.  PIA National provided the group with a detailed article on how the foreign corporation process used to work and how it works now.  President Pile said that the current process is unacceptable and the state insurance departments have the authority to correct the situation now.

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