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Advocacy in action blog

1 min read

NAIFA Favors Maryland Bill to Remove Insurance Pre-Licensing Hurdles

By NAIFA on 2/2/24 5:34 PM

NAIFA supports a bill in Maryland that would eliminate a pre-licensing education requirement for people applying to take the state's insurance license exams. The mandated courses are unnecessary and burdensome and they do a disservice to those pursuing an insurance career in Maryland as well as consumers. 

Topics: State Advocacy Maryland Producer Licensing & CE Supported Legislation
1 min read

Tennessee Modifies Qualifications for Potential Agents

By Bianca Alonso Weiss on 4/28/22 4:41 PM

NAIFA-TN is celebrating the recent signing of HB 2225 into law. Sponsored by Representative Dennis Powers and NAIFA-Tennessee member Senator Mark Pody, this bill limits the lookback of misdemeanors or Class E felonies to 10 years for insurance agent applicants. Class E felonies are often associated with low-quantity marijuana possession charges. In recent years, as many states have taken steps toward legalization, there are efforts to expunge or reconsider these types of crimes, which were disproportionately charged against minorities and people of color. HB 2225 is a step towards removing this barrier of entry into the insurance industry.

Topics: State Advocacy Insurance & Financial Advisor Regulation Producer Licensing & CE Tennessee
2 min read

Illinois Passes Association CE Credit Legislation

By Bianca Alonso Weiss on 4/6/22 3:17 PM

The Illinois General Assembly on March 30 passed HB 4324 by Representative Bob Morgan and Senator Julie Morrison, which will make Illinois the 13th state to offer licensed insurance producers the opportunity to gain continuing education (CE) credits based on their active participation in a state or national professional insurance association. Producers may receive up to four hours of CE on a biennial basis by providing detailed records of attendance and involvement to the Department of Insurance. The bill is now on its way to Governor J.B. Priztker’s desk for signature.  

Topics: State Advocacy Illinois Insurance & Financial Advisor Regulation Producer Licensing & CE
1 min read

NAIFA Urges the Administration to Move Forward with NARAB Nominations

By NAIFA on 2/18/22 12:25 PM

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).

Topics: Federal Advocacy Insurance & Financial Advisor Regulation Producer Licensing & CE
2 min read

FINRA Includes NAIFA Recommendations in New Maintaining Qualifications Program

By NAIFA on 11/29/21 9:45 AM

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.  

Topics: Diversity Federal Advocacy FINRA Insurance & Financial Advisor Regulation Producer Licensing & CE
1 min read

ThinkAdvisor Article Highlights NAIFA Suggestions to FINRA on DEI

By NAIFA on 7/9/21 10:27 AM

NAIFA has suggested ways for the Financial Industry Regulatory Authority (FINRA) to promote diversity, equity, and inclusion (DEI), and the association’s ideas have gained notice.

In an article this week, the influential industry publication ThinkAdvisor has highlighted suggestions made by NAIFA Senior Vice President for Government Relations Diane Boyle and Policy Director Maeghan Gale. Among the NAIFA ideas called out by ThinkAdvisor are:

Topics: Diversity Advocacy Resources FINRA Insurance & Financial Advisor Regulation Producer Licensing & CE
1 min read

NAIFA Comment Letter to FINRA Offers DEI Recommendations

By Maeghan Gale on 6/28/21 5:02 PM

The Financial Industry Regulatory Authority (FINRA) issued a request for comments as part of its efforts to support dialogue for greater diversity and inclusion within the financial industry. NAIFA submitted comments to Regulatory Notice 21-17 that highlighted our commitment to Diversity, Equity, and Inclusion (DEI) as part of the NAIFA 2025 strategic plan, the mission of our DEI Council, and the importance of cooperation among the industry to drive change.

Topics: Diversity Federal Advocacy FINRA Insurance & Financial Advisor Regulation Producer Licensing & CE
1 min read

New Missouri Law Allows CE for Agent Association Membership

By NAIFA Missouri on 6/10/21 10:45 AM

Legislation signed recently by Governor Mike Parsons "allows an insurance producer to receive up to four hours of continuing education credit per biennial reporting period for participation as an individual member or employee of a business entity producer member of a local, regional, state, or national professional insurance association with approval by the Director of the Department of Commerce and Insurance."

NAIFA-MO worked on securing the adoption of the bill (HB 604) for several years.

“Our State Government Relations Committee found a good sponsor in Rep. Kurtis Gregory, and we are very proud of this accomplishment for NAIFA members,” said Ed Anderson, NAIFA-MO’s National Committeeperson.

Over the past several years, many NAIFA state chapters have been advocating for legislation to allow financial advisors to receive CE credit for their membership and active participation in a professional agent association. Due to NAIFA’s advocacy, at least 11 states allow advisors to be eligible for CE credit for their association membership: Arkansas, Georgia, Louisiana, Missouri, Nebraska, North Carolina, Ohio, Oklahoma, Texas, Utah, and West Virginia. Depending on the state and the approval of the respective state insurance commissioner, advisors may receive from one to six CE credit hours for this purpose.

As NAIFA has argued in state legislatures and before the National Association of Insurance Commissioners, professional insurance associations promote high standards of ethical conduct and provide educational programs and professional development opportunities to association members. NAIFA believes advisors who are active members of an agent association should be eligible for continuing education credit for such membership.

“We believe that permitting advisors to receive CE credit for association membership both encourages advisors to become members of nationally recognized professional insurance associations and benefits consumers by ensuring them access to better qualified advisors,” said Anderson.

Topics: Continuing Education State Advocacy Insurance & Financial Advisor Regulation Missouri Producer Licensing & CE
1 min read

NAIFA-TN Urges End of Professional Tax on Advisors and Broker-Dealers

By Julie Harrison on 3/2/21 3:55 PM

NAIFA-TN is using its advocacy muscle to convince state legislators to eradicate its professional privilege tax. The tax was used to balance budgets in 1992 and in 2002 and Tennessee is one of only six states with such a tax. Until two years ago, the tax applied to 22 different professions, including dentists, physicians, and real estate principal brokers. In 2019, Tennessee removed the discriminatory tax on 15 of the professions yet continues to require attorneys, securities agents, broker-dealers, investment advisers, lobbyists, osteopathic physicians, and physicians to pay the annual $400 tax.

Topics: State Advocacy Grassroots Producer Licensing & CE Tennessee
1 min read

Massachusetts Enters into NAIC Continuing Education Agreement

By NAIFA on 12/1/20 1:30 PM

In an effort to streamline processes and implement uniform transactions for both licensees and consumers, the Massachusetts Division of Insurance recently announced it has entered into the National Association of Insurance Commissioners (NAIC) Continuing Education Reciprocity (CER) Agreement.

Topics: State Advocacy Insurance & Financial Advisor Regulation Massachusetts Producer Licensing & CE

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