The ball is in the U.S. House of Representatives court after the U.S. Senate on Thursday passed S.1926, the Homeowner Flood Insurance Affordability Act, which contained language to create the National Association of Registered Agents and Brokers.
NARAB would be a clearinghouse to cut through the red tape of state-by-state licensing for insurance brokers. The bill calls for the creation of a 13-member board appointed by the president and confirmed by the Senate. Members would be subject to background checks prior to joining.
