Pennsylvania Gov. Mark Schweiker has approved the National Association of Insurance Commissioners’ Producer Licensing Act in a move applauded by the American Insurance Association (AIA).
Language concerning departmental authority, appointment termination, and fee sharing took effect immediately on Dec. 6, 2002. The bulk of the new producer licensing law will take effect June 4, 2003.
Pennsylvania became the eighth state to enact the NAIC model this year, following Massachusetts, Michigan, Ohio, Pennsylvania, South Carolina, Tennessee, Vermont and West Virginia, bringing the total to 42. Enactment of the model in these states was an Alliance institutional objective for 2002.
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