On February 17, 2022, NAIFA joined with coalition members to send a letter to Steve Richetti, Counselor to President Biden, offering the support of the insurance agent and broker community for the administration to nominate members of the Board of Directors to establish the National Association of Registered Agents and Brokers Reform Act (NARAB).

Previously, on February 4, 2022, House Chairman David Scott sent a letter to the administration on the issue of NARAB nominees urging the administration to move forward with the nomination process.

NAIFA strongly supports the implementation of NARAB to streamline licensure processing, reduce administrative redundancies and provide regulatory compliance efficiencies by allowing insurance agents and brokers to conduct business in more than one state through a single application. Creation of the NARAB Board will single-handedly reduce compliance costs, promote consumer choice, and foster economic growth, all while continuing to preserve the state-based system of insurance regulation.