IRI: Send NARAB II to the President
June 30, 2014 by Warren S. Hersch
It’s high time that NARAB II be enacted. As LifeHealthPro contributor Arthur D. Postal noted in a June 20 article on the legislation, life insurance professionals spend an average of 29 hours per year complying with insurance licensing requirements, an additional 28 hours on insurance-specific education courses, plus an average more than $350 per year on insurance-specific continuing education courses. Establishing an insurance licensing clearinghouse for financial professionals operating in multiple states, as provided by NARAB II, would eliminate these burdensome costs in time and money. Hopefully, as the IRI press release notes, the bill will become law after being included in legislation to extend the terrorism risk insurance program.
—Warren S. Hersch
The Insured Retirement Institute (IRI) told its members today that efforts to advance legislation that would establish an insurance licensing clearinghouse for financial professionals operating in multiple states have never been closer to achieving the goal.
