The National Association of Insurance Commissioners (NAIC) has updated its assessment of its state producer-licensing laws, practices and processes.
“The updates demonstrate that the NAIC’s producer-licensing reform strategy is working, showing significant progress in the past year,” says Linda Hall, Alaska insurance director, and chair of the NAIC Producer Licensing Task Force.
The association credits outreach efforts by teams consisting of volunteer regulators and industry members of the NAIC/Industry Producer Licensing Coalition with helping to boost overall compliance.
“I am most pleased with the 98 instances of states achieving compliance with NAIC uniform resident licensing standards since February 2008—reaching 84% compliance overall — which means the process is working as designed.” says Tennessee Insurance Commissioner Leslie Newman, chair of the NAIC/Industry Producer Licensing Coalition.
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