Winning congressional support for legislation providing streamlined nonresident licensing of agents will be job one for members of the Independent Insurance Agents and Brokers of America attending the association's annual meeting next month in Washington, D.C., according to some of its top officials.
The legislation, introduced in the House of Representatives by Rep. David Scott, D-Ga., and Geoff Davis, R-Ky., on March 13, immediately picked up strong bipartisan support, according to Charles Symington, IIABA's senior vice president for government affairs.
The new piece of legislation--H.R. 5611, termed NARAB-II--is based on the National Association of Registered Agents and Brokers provision contained in the 1999 Gramm-Leach-Bliley Act, Mr. Symington explained. The bill would establish a private, nonprofit entity managed by a board composed of state insurance regulators and marketplace representatives.
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