NAIFA and five industry partners have sent a letter to several key members of the House of Representatives urging long-term reauthorization of the Terrorism Risk Insurance Program and asking that the NARAB II agent-licensing bill be included in the legislation.
The NARAB portion of the letter states in part:
"NARAB II would achieve much-needed reciprocity in producer licensing and help policyholders by permitting greater competition among agents and brokers. NARAB II would build upon regulatory experience at the state level, promote greater consistency in agent and agency licensing and ease the burden many agents face in doing business across state lines. Last year the full House of Representatives passed NARAB II by an overwhelming, bipartisan vote of 397-6, and a version of NARAB II is present in the Senate-passed TRIA reauthorization bill. We therefore urge the House to keep its version of NARAB II in any TRIA reauthorization."
In addition to NAIFA the letter was signed by five of our industry partners:
- American Association of Managing General Agents (AAMGA),
- Council of Insurance Agents & Brokers (the Council),
- Independent Insurance Agents & Brokers of America (the Big I),
- Insured Retirement Institute (IRI), and
- National Association of Professional Surplus Lines Offices (NAPSLO).
It was sent to Rep. John Boehner, Speaker of the House; Rep. Nancy Pelosi, House Minority Leader; Rep. Jeb Hensarling, Chair of the House Financial Services Committee; and Rep. Maxine Waters, Ranking Member of the House Financial Services Committee.