Senate Passes TRIA Bill Containing NARAB II

The U.S. Senate has passed the Terrorism Risk Insurance Program Reauthorization Act (TRIA) containing NARAB II. The bill passed the House of Representatives yesterday, so it now heads to the White House, where NAIFA anticipates that the president will sign it into law.

NAIFA President Juli McNeely congratulates NAIFA members on NARAB passage

The following statement was issued by NAIFA President Juli Y. McNeely, LUTCF, CFP, CLU:
“NAIFA applauds Congress for overwhelmingly passing the Terrorism Risk Insurance Program Reauthorization Act (TRIA), which contains the legislative text of NARAB II.

“For almost a decade NAIFA has actively lobbied Congress to create a National Association of Registered Agents and Brokers (NARAB), so we are particularly gratified to see such strong support in both the Senate and House of Representatives for the bill.
“This effort has not been easy, and we are grateful for the leadership shown by Rep. Randy Neugebauer, Rep. David Scott, Sen. Jon Tester, and recently retired Sen. Mike Johanns. They tirelessly worked to see NARAB II enacted.   
“For NAIFA members, NARAB will mean much-needed reciprocity in producer licensing. It will reduce red tape and improve efficiencies for our members who are licensed in multiple states. The legislation will benefit consumers as well by allowing them to maintain their preferred insurance agent or broker should they move to a different state.
“This is a win-win situation for insurance professionals and their clients.”
(NAIFA members, visit GovtTalk for more information.)

This is a really big deal. Didn't seem like there was any objection once it made it to the floor.

1/12/2015 1:05:45 AM