Washington--Legislation to create a federal licensing processenabling insurers and producers to conduct business nationwide freeof state rules was introduced today in the Senate.
The "National Insurance Act of 2006" would also bar states frompreventing or restricting producers with a state license fromselling, soliciting or negotiating insurance on behalf of nationalinsurers.
Although state insurance laws would be preempted generally,certain statutes would still apply, including laws related toparticipation in an assigned risk plan, mandatory jointunderwriting association, or any other mandatory residual marketmechanism.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
