The Department of Business Regulation is pleased to announce that Rhode Island is the thirteenth state to pass the Insurance Producer Licensing Model Act. The Producer Licensing Model Act establishes reciprocity and contains other provisions that streamline the licensing process and increase national licensing uniformity. Governor Lincoln Almond signed both Senate and House bills, which will become effective immediately
The passage of the Producer Licensing Model Act in Rhode Island means that 16 more states must do the same to avoid federal oversight of agent licensing or the formation of a National Association of Registered Agents and Brokers (NARAB).
Rhode Island’s act is in all material respects identical to the model approved by the National Association of Insurance Commissioners.
Was this article valuable?
Here are more articles you may enjoy.
One of Highest Property Claims Severity Recorded in Q3 on Low Volume, Says Verisk 
Death of Teenager on Carnival Cruise Ship Ruled a Homicide 
In Alabama, Shot Employee Gets No Workers’ Comp and No Employer’s Liability 
Trump to Issue Order Creating National AI Rule 
