Political Quotes

“I thank the gentleman from Texas for his leadership on this legislation today. I rise in support of H.R. 1155, which is the National Association of Registered Agents and Brokers Reform Act. This bill is, as we like to say, a commonsense step that will create a clearinghouse, if you will, for insurance agents and brokers alike to obtain approval to operate on a multistate basis. Under current law, an insurance agent who has clients in more than one State has to obtain licenses in each and every one of those States. The regulatory process, as you can imagine, varies from State to State. Obtaining and maintaining a license is both time-consuming and very expensive. Having to complete this process over and over and over again basically compounds the difficulty and often proves daunting, quite honestly, to smaller agents who are just trying to do their job and to serve their clients and meet their needs. What we have here is the NARAB clearinghouse. This would allow the agents to complete the process only twice--once in their home State and then once again for NARAB. Then they would be eligible to sell basically in all the States. Here is an important point: NARAB is supported by all the stakeholders, including, as the gentleman just said, by the State insurance regulators. It does so because it brings much-needed efficiency to a multistate licensing process.…”