The National Association of Insurance Commissioners (NAIC) issued a press release last week announcing completion of its membership-wide producer licensing assessment. This assessment, conducted by a group of volunteer regulators, examined and verified compliance with the NAIC’s 2002 reciprocity standards, state adoption of the Producer Licensing Model Act, and adoption of the Uniform Resident Licensing Standards. It also identified deficiencies and obstacles to compliance, and set forth open issues for further consideration by the NAIC’s membership. Each jurisdiction was given state-specific reports outlining findings and recommendations. This assessment demonstrates the NAIC's continued commitment to state regulation and streamlining producer licensing procedures.
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