Broker compensation has been a major issue of concern for Council members since October 2004 when New York Attorney General Eliot Spitzer announced he was investigating the insurance industry. More >
Since 2004, District Court judges in Nevada, Puerto Rico, South Dakota, and the United States Virgin Islands have agreed with Council lawsuits and ruled that the countersignature laws in the four jurisdictions are unconstitutional. More >
Although producer licensing processes have improved since the enactment of the NARAB provisions of the Gramm-Leach-Bliley Act (GLBA), the inefficiencies and inconsistencies that remain affect every insurer, every producer and every insurance consumer, imposing unnecessary costs at every level due to the regulatory and administrative burdens they impose. The Council continues to work with the National Association of Insurance Commissioners to streamline the individual and business entity licensing processes. The Council also supports NARAB II, which was passed by the U.S. House of Representatives.
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