Federal Insurance Office's report on insurance regulation
"Ways to Modernize and Improve the System of Insurance Regulation in the United States"
The U.S. Dept. of Treasury's Federal Insurance Office has released the report on how to modernize and improve insurance regulation required by the Dodd-Frank Act of 2010.
The report also specifically calls on Congress to enact the National Association of Registered Agents and Brokers Act (NARAB II). It says that “consumers are detrimentally affected by the absence of uniformity and reciprocity in producer licensing” and that “NARAB II must provide producers an efficient and streamlined multistate licensing mechanism.”
The Big “I” strongly supports NARAB II and believes its approach of using narrow and targeted federal legislation to address a long-standing, persistent problem in the market is the correct approach for modernizing insurance regulation.
View/download 2017 report