New Agent Licensing Bill

Days before the annual Big “I” Legislative Conference, U.S. Senators Jon Tester (D-Montana) and Mike Johanns (R-Nebraska), introduced legislation to reform the agent licensing system,  The “National Association of Registered Agents and Brokers Reform Act of 2012”, commonly referred to as “NARAB II”, provides for a uniform system for reciprocal licensing of non-resident insurance agents and brokers.  Its introduction follows the introduction of similar legislation in the U.S. House of Representatives by Rep. Randy Neugebauer (R-Texas) and Georgia’s own David Scott.  The NAIC has agreed to endorse the Senate bill.  To review a copy of that bill, click here.

Stay tuned for futher developments regarding this important legislation.