During the next NAIC meeting in Washington, D.C., the regulators will discuss state licensing requirements for business entities versus individuals and whether a non-resident business entity license should be required.  It is PIA’s position that both an entity and individual license should be available, however, only a non-resident individual license should be required.

Commissioner Sevigny said he is very appreciative of the reports PIA has been submitting on the licensing experiences of our members.  The regulators said these reports are extremely valuable, because even though states may have “uniform” laws and regulations on the books, so-called “desk drawer” rules may be causing problems for producers.  Please keep your reports coming in.   They really do help improve the system!

September 25, 2007