Media Center

Today, Rep. David Scott and Rep. Randy Neugebauer introduced H.R. 2554, commonly referred to as the National Association of Registered Agents & Brokers Reform Act (NARAB).  The NARAB bill will reform the current system of insurance agent licensing and provide streamlined non-residential insurance agent and broker licensing, while preserving the market conduct rights of states and their authority to supervise agents and brokers.  The measure will also create reciprocity in producer licensing and assist policyholders by generating greater competition. 

“I, along with my colleague Rep. Randy Neugebauer, introduced NARAB to help reform and modernize a very important part of state insurance regulation, agent and broker licensing,” said Scott.  “This legislation is straight-forward and will most definitely benefit consumers through increased competition among agents and brokers, thus leading to greater consumer choice.”

This measure passed the House with strong bipartisan support last Congress and has gained the endorsement of the state insurance commissioners. 

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