In an effort to keep the possibility of a national insurance broker licensing clearinghouse alive, the language for NARAB has been included in a flood insurance bill (S. 1846) thats teed up for vote in the U.S. Senate the week of Jan. 27.
NARAB II passed the U.S. House in September as a standalone bill (H.R. 1155) but is stalled in the Senate on its own. The intent of the legislation is to create the National Association of Registered Agents and Brokers, which would have a 13-member board appointed by the president and confirmed by the Senate; members of the organization would have a simpler time obtaining licenses to practice insurance outside of their state of residence.
