Advocacy in action blog

It's been nine-and-a-half years since the National Association of Registered Agents & Brokers (NARAB) Reform Act was enacted, yet the NARAB Board of Directors has still not been established. The Obama administration submitted nominees but the Senate Banking Committee failed to act on the nominations. Since then, the Trump and Biden administrations have not submitted nominations to the Senate for approval.

Tennessee Governor Bill Lee signed SB 1369 into law on March 21, 2023, making Tennessee the 24^th state to eliminate producer pre-licensing mandates. NAIFA-Tennessee applauds and thanks bill sponsors Senator Steve Southerland and Senator Ken Yager for carrying the legislation. NAIFA-Tennessee worked hard on the ground to educate lawmakers on the positive change this will be for increasing producer recruitment.

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.

NAIFA Trustee Christopher Gandy, LACP, loyal member since 2003 and Founder of Midwest Legacy Group, is participating in a panel discussion at the National Association of Insurance Commissioners (NAIC) 2022 Insurance Summit. The session, “Diversity, Equity, and Inclusion in Producer Licensing,” is exploring how regulators and the insurance industry are addressing DEI issues in the distribution of insurance through pre-licensing and licensing exam procedures.

The Massachusetts Division of Insurance announced earlier this year that the state insurance licensing exam will now be offered in Spanish. NAIFA's Massachusetts chapter has been working with the Division of Insurance on this initiative and advocated for its adoption.