The US House of Representatives just passed the National Association of Registered Agents and Brokers Reform Act of 2013, also known as NARAB II. If also passed by the Senate, NARAB II will establish a national clearinghouse for agents and brokers selling insurance in non-resident states. NARAB II will establish a single set of non-resident licensing and Continuing Education requirements for NARAB members.
What does this mean for an individual agent? NARAB II would make it much easier to obtain and maintain non-resident licenses. If passed in the Senate, this would be an impactful tool for all agents writing business in multiple states.
The Senate Banking Committee has referred NARAB II to the Senate floor – to ensure its’ success, write your Senator and encourage their support for NARAB II here.
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