Washington – A new legislative initiative has opened a new front in the battle to nationalize insurance regulation. H.R. 5611, officially the National Association of Registered Agents and Brokers Reform Act of 2008, but commonly referred to as NARAB II, was greeted last week with both praise and condemnation.

The bill would nationalize insurance agent licensing only, leading critics to charge that the legislation’s true intent is to undercut support for existing efforts to establish an optional federal charter for insurers.

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