The Board of Directors of the National Insurance Producer Registry (NIPR) voted December 5 to reduce prices on all products by 10 percent, bringing unexpected savings to insurers, producers and brokers across the country. NIPR, a non-profit affiliate of the National Association of Insurance Commissioners (NAIC), provides products to streamline and bring uniformity to the insurance producer licensing process. All 50 states now participate in NIPR's Producer Database (PDB). Officials said increased participation means NIPR can reduce prices, which in turn can lead to more users and potentially more revenue growth.

What It Means to Agents: PIA serves as a producer representative on the board of NIPR and supported this action, which will result in cost savings to PIA members.