Congress, with strong bipartisan support, passed the National Association of Registered Agents and Brokers Reform Act more than eight years ago. The law would significantly streamline the process for insurance agents and brokers to be licensed in more than one state. This would obviously benefit producers by reducing red tape and regulatory costs, but it would also be a boon to consumers by promoting choice and fostering economic growth.
The NARAB II legislation requires that a NARAB Board of Directors be appointed by the President and confirmed by the Senate. Yet, since the law was enacted in 2016 no NARAB Directors have been confirmed.
NAIFA has stepped up efforts encouraging the Biden administration to nominate members for the Board of Directors of the National Association of Registered Agents and Brokers (NARAB). Most recently, we joined a letter to President Biden encouraging the administration to move forward with NARAB and nominate Board members as quickly as possible. NAIFA has also suggested qualified individuals for consideration.
NAIFA took a lead advocacy role when the NARAB legislation was first passed and we will follow through until it is fully enacted. This is just one example of how NAIFA’s advocacy is working on behalf of producers and the consumers you serve