Agent Licensing Group Expects MGA Model Vote In September
New Orleans
State regulatory officials meeting here are pleased with the progress made on reforming producer licensing laws nationwide, and anticipate voting on a model act for managing general agents in September, but realize they still have several sticking points to overcome.
The Agent Licensing Working Group of the Market Conduct & Consumer Affairs (D) Committee, which convened last week at the National Association of Insurance Commissioners Summer Meeting, set July 9 as the deadline for the submission of comments from interested parties on the MGA model licensing act.
Gene Reed, a representative of the Delaware insurance department who co-chairs the working group, said that following a conference call among the members to "iron out" issues, the working group could be ready to vote on adopting the model act at the September meeting of the NAIC in Boston. Mr. Reed added that to date, the working group had received no comments from interested parties.
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