National May 3, 2016

President Obama nominates another to NARAB board

President Barack Obama has nominated Angela Ripley, president of V.W. Brown Insurance Service in Maryland, to the governing board of the National Association of Registered Agents and Brokers. NARAB, which was created in January 2015, would provide nonresident licensing reciprocity among states by creating a not-for-profit corporation that would establish criteria and grant a license that would enable the producer, duly licensed in his or her home state, to sell products which he or she is licensed to sell in their home state, in any state.

The legislation that created NARAB required that a governing board be established consisting of 13 members, of which eight must be state insurance regulators and five must be from the private sector. Originally, nominations to the NARAB board were to be completed within three months of the enactment of the law, however more than a year later less than half of the members of the board have been nominated and none have been confirmed by the Senate, a necessary step for any presidential appointment.

PIA supported the passage of NARAB and will continue to encourage urgency in the establishment of this important entity.