As Congress prepares to return to work Sept. 8 for an abbreviated session, a priority for the insurance industry will be ensuring that legislators keep on their radar enactment of a bill aimed at streamlining agent and broker licensing.
Creating a National Association of Registered Agents and Brokers (NARAB) has been a goal of the industry for a long time, and one was created through a 1999 law. However, there were strings attached to that law and state regulators were able to thwart its implementation by meeting certain thresholds.
Industry lobbyists, now armed with the support of state regulators, believe it is this year or never for the bill, and they're pushing hard for it.
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