Non-Resident Insurance Agent Licensing Bill – Pass or No Pass?

As of today, this hotly debated bill has been passed.

According to the article, the NARAB Reform Act from David Scott (D-Ga.) and Geoff Davis (R-Ky.) e would provide for nonresident insurance agent and broker licensing while preserving the rights of states to supervise and discipline insurance agents and brokers.

Money In God We TrustThis legislation modifies the original NARAB provisions of the Gramm-Leach-Bliley Act , which means that this private, non-profit entity managed by a board composed of insurance regulators and marketplace representatives isn’t going to be so private anymore with greater federal regulation.

For more details and the nitty gritty of this story, check it out here.

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