Washington — The House Financial Services Capital Markets Subcommittee has passed H.R. 5611, the NARAB Reform Act, to the full committee. The act, introduced by Reps. David Scott (D-Ga.) and Geoff Davis (R-Ky.), is intended to reform nonresident agent licensing.

Supporters of the legislation say it will ease nonresident insurance agent and broker licensing while preserving the rights of states to supervise and discipline insurance agents and brokers.

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