Wednesday, March 13, 2013

NARAB II Introduced in House & Senate

The U.S. House and Senate introduced legislation on Tuesday for the National Association of Registered Agents and Brokers, more commonly known as NARAB II. If passed, the identical House and Senate bills will streamline the licensing process for agents and brokers, eliminating burdensome multistate requirements while maintaining the integrity of the state-based insurance regulatory system as well as continuing to provide consumer protection.

NARAB II would establish a clearinghouse for agents and brokers to operate in a multi-state system. Agents and brokers would apply for membership of the Association, agreeing to strict standards and ethical requirements.

NAPSLO has strongly supported NARAB II legislation previously in the 112th Congressional session and applauds the House and Senate for moving forward with bipartisan support of this critical legislation during the 113th Congressional session. We will continue to provide NAPSLO membership with updates as the legislation progresses and we look forward to the legislation being adopted.

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