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PIA Attends NAIC-NIPR e-Regulation Conference

More than 650 participants attended the ninth annual E-Regulation Conference and Information Technology Exchange sponsored by the National Association of Insurance Commissioners (NAIC) and the...
May 14, 2008

More than 650 participants attended the ninth annual E-Regulation Conference and Information Technology Exchange sponsored by the National Association of Insurance Commissioners (NAIC) and the National Insurance Producer Registry (NIPR).

PIA National attended the conference to discuss the future of producer licensing. State regulators from all over the country joined industry representatives and vendors to bring innovative ideas aimed at streamlining the licensing process.

Technology is playing an increasing role in the success of state regulation and PIA has a leading role in the effort as a member of the NIPR board. The conference offered informative sessions in producer and company licensing, market analysis, rate and form filing, and information technology. NAIC staff provided an update on the activities of the Producer Licensing Coalition, reporting that great success has been achieved in many key areas;  in particular, the secretary of state issue - in which various state secretaries of state have been requiring that agencies seeking to be licensed for insurance transactions first obtain a foreign corporation business license - has largely been resolved. NAIC staff also revealed a preliminary report of their Government Affairs Leadership Council recommending that NAIC oppose NARAB II and instead work to improve the existing NARAB provisions in the Gramm-Leach-Bliley Act (GLBA).

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