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PIA Set to Participate in Third NAIC/Industry Producer Licensing Coalition Meeting

PIA National has been participating in a coalition led by NAIC Vice President Roger Sevigny (NH) and we are scheduled to meet again on Monday,...
September 25, 2007

PIA National has been participating in a coalition led by NAIC Vice President Roger Sevigny (NH) and we are scheduled to meet again on Monday, October 1 in conjunction with the NAIC Fall Meeting in Washington, D.C. 

PIA President Donna Pile met with NAIC Commissioners, staff and industry colleagues on August 30 to discuss solutions to the lack of uniformity in the non-resident licensing system.  This second meeting, held in Chicago, focused on the specific impediments to uniformity including foreign corporation requirements and states' adding requirements for producers that violate state and federal law.  The coalition also discussed how new technology, such as NIPR, can help states modernize the non-resident licensing system.

Perhaps the most exciting news to come out of the meeting was that the NAIC is aggressively going after states that require producers to register with their secretary of state as a foreign corporation before obtaining a non-resident license. Commissioner Sevigny reported that the NAIC is taking action to alleviate these unnecessary foreign corporations requirements. NAIC leadership is scheduled to begin a dialogue with the Secretaries of State, with the goal of completely resolving this problem for producers. States that can remove this requirement by administrative action are already beginning to do so.

Commissioner Sevigny reported that NAIC leadership discussed ways to help improve the licensing process for producers extensively during their Executive Committee meeting in August.  One strategy they plan to begin to implement right away is a state-by-state on site review of the licensing procedures with the goal of having a report on their findings for their February retreat.  How well the states are adhering to their own statutes will be included in the report.