NU Online News Service, March 20, 2003, 5:17 p.m. EST – Key insurance regulators want to exempt producers serving in the U.S. armed forces from continuing-education requirements and other requirements that might be difficult to meet while they are away from home.
The National Association of Insurance Commissioners, Kansas City, Mo., is preparing a memorandum “as we speak” to get states to agree to the exemption, according to Matthew Brisch, an NAIC spokesperson.
The general consensus is that states will sign off on the memorandum quickly, Brisch says.
The NAIC is looking at the issue because the U.S. war with Iraq has led to the call-up of producers who are members of the National Guard and Reserves.
The National Association of Independent Life Brokerage Agencies, Fairfax, Va., got the ball rolling at the NAIC’s spring meeting in Atlanta, by asking that each state insurance commissioner waive continuing-education requirements for insurance producers during any calendar year in which the producer is called to active duty.