Patriot Act Regs Tricky For Producers
Among the three major national agent/broker associations, thequestion of how insurance producers will comply with the PatriotAct's money laundering provisions is far from settled, to the pointwhere there are divergent views within the industry over whetheragents should be subject to the law in the first place.
Executives with the Independent Insurance Agents & Brokersof America, the National Association of Professional InsuranceAgents, and the Council of Insurance Agents and Brokers all saytheir talks with the U.S. Treasury Department over compliance withthe Patriot Act have been positive.
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