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Arkansas Votes On Producer Licensing Model Act

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NU Online News Service, July 31, 10:50 a.m. – The Arkansas House and Senate have approved the “Producer Licensing Model Act,” a bill sponsored by Democratic Rep. Bobby Glover, and sent it to Republican Gov. Mike Huckabee.

The bill would prevent non-licensed agents from quoting or conducting any new business. It would not prohibit administrative staff from processing add-ons to existing policies, according to the National Association of Insurance and Financial Agents-Arkansas.

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The NAIFA-Arkansas position on H.B. 1456 is that it “supports measures which would enforce the ethics of business practices. This is especially important legislation to pass because it will help to maintain state control of the insurance industry. Failure to pass these measures by at least 29 states will result in a Federal Regulatory Board being established.”