NAIFA CEO Kevin Mayeux is a contributing author of an article in the publication Real Clear Policy arguing in favor of federal legislation allowing remote online notarization (RON). NAIFA has been a strong proponent of RON and urged passage of the SECURE Notarization Act because it would set a national standard and be a great benefit to NAIFA members and their clients who routinely complete financial transactions that require notarized documents.
RON allows the consumer, notary, and other parties to a transaction to be in different locations using two-way audio-visual communication to securely notarize documents. This process provides assured consumer access to notarization, allows for flexible scheduling, and affords consumers time to review documents and proceed when they are ready to sign. As noted in the article, it is also an important option for homebuyers.
RON gained traction during the COVID-19 pandemic but remains an important tool as the insurance and financial services industry continues to modernize and embrace technology. A number of states have approved the use of RON under various state laws.
NAIFA and industry partners have sent several letters to members of the House and Senate supporting the SECURE Notarization Act. In July, the House passed the legislation and it now awaits action by the Senate.