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Tuesday, July 23, 2013

Will the Senate Vote on NARAB this Fall?

According to a democratic insider, Senate Majority Leader Harry Reid (D-NV) is currently working to schedule a vote on S. 534, the National Association of Registered Agents and Brokers Reform Act of 2013 (NARAB II) for this fall.

ABIA supports this legislation because it would move the current agent and broker licensing system from one based upon reciprocity to one based upon uniformity. The bill would permit agents and brokers that are members of NARAB and that abide by its standards to sell or broker insurance in any state based upon a home state license.