National Organizations Urge Congress to Reject a National Insurance Regulator

In recent news organizations such as the National Association of Professional Insurance Agents (PIA) have been urging Congress to reject proposals to create a federal insurance regulator and instead support improvements to the state system of insurance regulation. A press release from PIA on October 3rd, 2007 listed reasons as to why a national regulator would not be needed but the main point that they made was that “One was not needed”.

Other groups such as National Governors Association, the National Conference of Insurance Legislators, the National Conference of State Legislatures and the National Association of Insurance Commissioners also oppose having a national insurance regulator.

One of the major issues that would be affected by any changes made between state and national insurance regulation would be Pre-license and Continuing Education. Presently all requirements are regulated by each state individually and occasionally state legislation adopts a national rule such as The National Flood Insurance Program (NFIP) that requires Insurance Agents who sell Flood Insurance to take a three (3) hour NFIP training course as part of their state continuing education requirement. This would completely change if a national insurance regulator was established.

To find requirements and courses for Pre-license or Continuing Education in your state visit LearnInsurance.com.