A major step in streamlining agent licensing across the states was taken in August when the National Association of Insurance Commissioners (NAIC) made the preliminary determination that at least 35 states had met the reciprocity requirements for nonresident producer licensing under the Gramm-Leach-Bliley Act (GLBA).At press time, the Kansas City, Mo.-based NAIC was expected to officially certify those states at its meeting in September in New Orleans.
According to GLBA, which was passed in November 1999, 29 states had to enact uniform or reciprocal producer licensing laws by November 12, 2002. If they did not, the National Association of Registered Agents and Brokers (NARAB) would be created, under NAIC oversight, to establish uniform state licensing, appointment and continuing education requirements for insurance agents.
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