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NARAB II Bill Approved in House

On March 3, the House voted in favor of the proposed National Association of Registered Agents and Brokers Reform Act of 2009. The legislation aims...
March 10, 2010

On March 3, the House voted in favor of the proposed National Association of Registered Agents and Brokers Reform Act of 2009. The legislation aims to institute a streamlined reciprocal-licensing process for insurance producers across the country.

PIA is committed to achieving a modern, nationwide insurance producer licensing system utilizing model laws and regulations such as the Producer Licensing Model Act (PLMA) and electronic facilitators, such as the National Insurance Producer Registry (NIPR). PIA supports state based efforts to increase licensing reciprocity and uniformity.

In addition to supporting state based efforts, PIA supports NARAB II, narrowly targeted federal legislation that streamlines producer licensing requirements; provides a common ease-of-doing business process; is open across all state borders; provides effective state enforcement for all resident and nonresident insurance producers; and facilitates reciprocity without creating a new federal insurance bureaucracy.

House Passes Agent/Broker Reform Bill (Business Insurance 3/4/10)

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