NARAB II: Could Make Non-resident Licensing Easier

[BlockO]

https://www.iiaba.net/na/02_News/02...SPRESS&ContentLevel3=&ActiveTab=NA&StartRow=0

Also, saw this in another news release: "Agents and brokers, under the bill, would be allowed to conduct business in any state in any line of insurance they are permitted to in their home state."

sounds like this bill could really open up the flood gates! I would think there will be a lot of bugs to work out. especially with agents being unacquainted with other states' laws. that would seem like a big learning curve.

 

[somarco]

This appears to be geared toward P&C, personal lines. The idea of buying/selling across state lines is something that seems to fascinate politicians who have no clue how basic insurance rates are determined. They seem to think (using health insurance as an example) rates are lower in OH than in NY, so if we allow NY residents to buy from OH, or allow OH agents to sell in NY, consumers win.

If only it were that easy.

Shoes and insurance are not the same.

 

[Kari]

They seem to think (using health insurance as an example) rates are lower in OH than in NY, so if we allow NY residents to buy from OH, or allow OH agents to sell in NY, consumers win.

If only it were that easy.

Shoes and insurance are not the same.

I'm pretty sure the sworn testimony at committee meetings brings these kinds of things up. Then the politicians parrot whatever their talking points of the day are and completely ignore the testimony.

 

[Norwayguy]

This appears to be geared toward P&C, personal lines. The idea of buying/selling across state lines is something that seems to fascinate politicians who have no clue how basic insurance rates are determined. They seem to think (using health insurance as an example) rates are lower in OH than in NY, so if we allow NY residents to buy from OH, or allow OH agents to sell in NY, consumers win.

If only it were that easy.

Shoes and insurance are not the same.

Well in a way it is that easy...Just have NY drop its mandates down to the same as OH and it would be a large part of the battle...Then you need to get rid of GI...and I would think you are just left with slightly higher medical costs.

 

[Tampa Bay Rep]

Well in a way it is that easy...Just have NY drop its mandates down to the same as OH and it would be a large part of the battle...Then you need to get rid of GI...and I would think you are just left with slightly higher medical costs.

So true, New York has to be one of the toughest state to do business in for insurance companies.