The National Conference of Insurance Legislators will support state insurance regulators’ efforts to standardize producer licensing.
Rhode Island state Rep. Brian Kennedy, D-Hopkinton, R.I., president of NCOIL, Troy, N.Y., delivered that message here at a briefing session for legislators at the summer meeting of the National Association of Insurance Commissioners, Kansas City, Mo.
Lawmakers from 4 states attended the session.
“We’re fully behind you on producer licensing,” Kennedy said. “We need to get more states behind you.”
Also at the briefing, New Hampshire Insurance Commissioner Roger Sevigny said producer licensing reform is moving ahead on many fronts and needs state lawmakers’ support.
“It’s a critical role you play helping state regulators and producers,” Sevigny said.
Sevigny said the NAIC producer licensing working group is addressing standards for testing and background checks and is working with producers and trade organizations to make sure they can embrace the framework that is being developed.
Sevigny said the NAIC is hoping to approve adoption this year of a first edition of a producer licensing handbook.
Sevigny added that a working group involved with the proposed National Association of Registered Agents and Brokers producer licensing effort is busy with the issue of state compliance on uniform standards. The group has held meetings and phone conferences and is focusing on making standards comply with the federal Gramm-Leach-Bliley Financial Service Modernization Act, Sevigny said.
The NAIC’s Industry Producer Licensing Coalition is working with the insurers to learn what the industry feels it needs for an easier licensing process as well as how regulators can manage to better promote licensing regulation, Sevigny said.
Further, the coalition is examining how to get all 50 states involved in the uniformity effort and how to get “congressional empowerment,” Sevigny reported. He told the lawmakers attending the session that state legislators, by providing support for the NAIC producer licensing reform effort, could play “a big role” in its success.