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Thursday, January 14, 2016

President Obama Announces Four Appointments to NARAB II Board of Directors

Last January, Congress established the National Association of Registered Agents and Brokers (NARAB) . NARAB is a licensing organization designed to allow insurance producers with a valid home-state license to apply for a NARAB license, which would allow them to sell insurance within the scope of their license in states where they are non-residents. Members of the Board of Directors are appointed by the President, with the advice and consent of the Senate. The Board of Directors will consist of eight state insurance commissioners, three members with expertise and experience in property and casualty insurance producer licensing, and two members with expertise and experience in life or health insurance producer licensing.  The law required that the NARAB II Board of Directors be formed by April 12, 2015.

Early this week, President Obama announced the first four appointments to the NARAB Board of Directors.  The four appointees are:
  • Raymond G. FarmerDirector of the South Carolina Department of Insurance
  •  Tom McLearyPresident of Endow, Inc.
  • Mike RothmanCommissioner of the Minnesota Department of Commerce
  • Heather A. Steinmiller – Senior Vice President and General Counsel for Conner Strong & Buckelew Companies, Inc.
Read White House Press Bulletin.