The legislation has bipartisan support, with Rep. Randy Neugebauer (R-TX) and Rep. David Scott (D-GA) introducing the House version (H.R. 1064) and Senators Mike Johanns (R-NE) and Jon Tester (D-MT) introducing the Senate bill.
The legislation would:
- Formally create NARAB as a non-profit, independent board comprised of state insurance commissioners and insurance market representatives;
- Allow insurance agents that pass background checks in their home states to apply for NARAB membership, which then allows them to sell insurance in other states;
- Ensure transparency and consumer protection; and
- Empower NARAB to levy disciplinary measures on agents who do not adhere to board guidelines.
Read the Senate Bill.
Learn more from Rep. Neugebauer.
Learn more from Senator Johanns.