Advocacy in action blog

NAIFA Trustee Wes Booker, LUTCF, CEO of the Wes Booker Agency, The Horace Mann Companies, in Maumelle, AR, has announced that he is a candidate for the Arkansas State House of Representatives. He is running for the seat serving House District 71.

Washington Governor Jay Inslee on January 27 signed two bills passed by the Legislature that delay and make some improvements to the Washington Cares Fund, a state-run long-term care insurance program.

NAIFA's New Jersey chapter (NAIFA-NJ) has been hard at work on the advocacy front and has recent wins to show for its efforts.

U.S. Senators Chris Van Hollen (D-Md.), Tim Scott (R-S.C.), Raphael Warnock (D-Ga.), and Cynthia Lummis (R-Wyo.) introduced the Empowering States to Protect Seniors from Bad Actors Act, a bipartisan bill that would create a Securities and Exchange Commission program to work with state regulators to protect senior investors.

Innovation in insurance producer licensing in the U.S. has accelerated in the last few decades, and the National Insurance Producer Registry (NIPR) has led the way.

Celebrating its 25th anniversary, today’s NIPR is a vital technology company grounded in teamwork, service and innovation—with unsurpassed expertise in the state-based system of insurance producer licensing.

It’s hard to imagine that insurance producer licensing was once accomplished with paper applications and a long process of research and validation. Multi-state producers had distinct application processes, timelines, and fees for each state in which they did business.

To improve this approach, NIPR was formed in 1996 as a unique public-private partnership between the National Association of Insurance Commissioners (NAIC) and the insurance industry. NIPR was founded on the concept that insurance producers and compliance professionals should have access to a “one-stop-shop” for cost-effective, streamlined and uniform licensing across all states and jurisdictions.

Today, NIPR’s Producer Database (PDB) is the single source of comprehensive insurance producer data from all fifty states, the District of Columbia, Guam, Puerto Rico, and the United States Virgin Islands. In 2021, the insurance industry used NIPR to process more than 42 million credentialing transactions and move $1.1 billion in fees to state insurance departments.

NIPR’s business is led by a board of directors made up of state commissioners, insurance industry representatives, and NAIC executive leadership—an ideal mix of professionals for coordinated and effective solutions.

Karen Stakem Hornig, CEO of NIPR said, “Through the past 25 years, NIPR has adapted to meet evolving industry and producer needs, harnessed the power of emerging technology and responded purposefully to change. These efforts have allowed us to humanize our technological offerings, ultimately building trust and a collaborative culture, which has been key to our success.”

Producers can access their own license information, apply for and renew their licenses at NIPR.com and use NIPR’s free mobile app to help with the compliance process. Insurance agencies and carriers use NIPR to manage the licensing and appointment process. Growing from a concept to a high-functioning organization emphasizing teamwork, service, and innovation, NIPR has supported the industry in its efforts to become more and more efficient and effective.

NIPR’s 25th anniversary commemorative booklet, Celebrating Our Journey, is online.

About NIPR: NIPR is a not-for-profit technology company with the goal of streamlining the producer licensing process. Governed by a board of directors representing state insurance regulators and members of the insurance industry, NIPR is an affiliate of the National Association of Insurance Commissioners (NAIC). To learn more, visit NIPR.com.

A new report by the U.S. Senate Special Committee on Aging prominently features comments submitted by NAIFA that highlight the important ongoing role advisors play in retirement planning.

NAIFA’s Washington state chapter strongly supports proposed legislation, HB 1732, that would delay the implementation of the Washington Cares long-term care insurance program. NAIFA-WA President Chris Wertenberger, loyal NAIFA member since 2002, asked legislators to fast-track the bill during a hearing before the Washington House of Representatives Appropriations Committee on January 11.

NAIFA has announced that it will hold its 2022 Congressional Congress in-person May 23-24 in Washington, D.C. The event will feature targeted advocacy training with briefings on legislative issues that affect members’ businesses and the clients they serve. Expert presenters will offer best practices for conducting Congressional meetings and tips for developing impactful long-term relationships with legislators.

Beginning on December 27, 2021, brokers and consultants will be held to new compensation  transparency obligations under the Consolidated Appropriations Act (CAA). The CAA is a spending  and coronavirus relief package that was signed into law on December 27, 2020 and expands ERISA’s existing disclosure requirements. It broadened the definition of a “covered plan” to include group health plans (previously it only included retirement plans).

NAIFA Senior Vice President for Government Relations Diane Boyle on June 22 submitted comments to FINRA in response to Regulatory Notice 21-17, Supporting Diversity & Inclusion in the Broker-Dealer Industry. Among several recommendations, NAIFA requested the U5 filing time limit be extended from two years to five years. Given the subject matter difficulty and extensive time commitment to earning FINRA Series Registrations, the extension would allow for a broader group of advisors to maintain their credentials despite taking leaves from the industry.