NAIFA Applauds Congressional Efforts on TRIA Reform Bill Including NARAB II

June 19, 2014

The House Financial Services Committee today marked up the Terrorism Risk Insurance Act (TRIA Reform Act) including an amendment that would create a National Association of Registered Agents and Brokers (NARAB). NARAB would be a national licensing organization to allow insurance agents to operate in multiple states more efficiently. "NAIFA applauds Chairman Neugebauer's authorship of NARAB II as an amendment to the TRIA Reform Act," said NAIFA President John Nichols. "The facilitation of in...

NAIFA applauds Sen. Susan Collins

June 12, 2014

NAIFA thanks Sen. Susan Collins for her efforts to encourage employers to establish retirement savings plans that allow employees to prepare themselves for retirement.  In a  letter  to Sen. Collins, NAIFA President John Nichols said: "NAIFA encourages support for the small business retirement incentives bill (S.1970) introduced by Sens. Susan Collins (R-ME) and Bill Nelson (D-FL). The bill would add a new more generous safe harbor for small business retirement plans, establish a tax credit...

Facts About NARAB II

June 4, 2014

The National Association of Registered Agents and Brokers Reform Act of 2013 (NARAB II) has been introduced in the House (H.R. 1155) and Senate (S. 534). The legislation would create a national clearinghouse for insurance agents and brokers to obtain approval to operate on a multi-state basis. NARAB would be governed by a Board of Directors dominated by state regulators and would establish standards for membership that meet or exceed the existing requirements in any state. A prospective NARAB...