AAMGA Requesting Comments on NARAB II Bill No Later Than March 18, 2013
Mar 13, 2013
In conjunction with its participation with other industry groups in creating the ”National Association of Registered Agents and Brokers Reform Act of 2013” (“NARAB II”) legislation filed this week in both the United States Senate and House of Representatives, the American Association of Managing General Agents (“AAMGA”) has advised that insurance industry comments in support of the bill are needed no later than Monday, March 18, 2013. This feedback will be used to create comments for bill sponsor Senator Jon Tester (D-MT) to deliver the very next day.
A copy of the bill (S. 534 and H.R. 1064) can be viewed by clicking here.
Industry comments will also be used to create written testimony in support of NARAB II, which is designed to ultimately help consumers by assisting agents and brokers in streamlining their operations and licensing compliance.
The Senate version of the bill has 14 bipartisan cosponsors. In addition to Senators Tester and Mike Johanns (R-NB) who have sponsored the bill, Senators Bennet, Crapo, Murphy, Chambliss, Warner, Wicker, Heitkamp, Heller, Carper, Menendez, Moran and Nelson are the signatory co-sponsors to date.
The AAMGA urges insurance industry members to contact their respective Senators and request them to either co-sponsor NARAB II if they have not already done so, as well as support the legislation once it is brought to the Floor for a vote.
Please forward all comments on NARAB II by March 18 directly to:
Bernd G. Heinze, Esq.
610 Freedom Business Center, Suite 110
King of Prussia, PA 19406
Should you have any questions or comments, please contact Colodny Fass& Webb.
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