Rothman Named to National Insurance Board
The White House has announced its intent to nominate Minnesota Commerce Commissioner, Mike Rothman, to the new NARAB board of directors. After nearly 15 years of efforts to streamlining multiple state producer licensing, Congress enacted the National Association of Registered Agents and Brokers Reform Act of 2015.
The act which was strongly supported by our national association as well as other agent organizations established this board. Rothman will be one of 8 state commissioners who will serve on the Board. Five industry representatives will be appointed shortly.
- - - - - - Minnesota Department of Commerce News Release - - - - - -
White House to Nominate Minnesota Commerce Commissioner for National Insurance Board
President Obama has announced his intent to nominate Minnesota Commerce Commissioner Mike Rothman to serve on the Board of Directors for the newly-created National Association of Registered Agents and Brokers (NARAB), which will create a one-stop licensing process for insurance agents and brokers who seek to do business in multiple states.
Currently, agents and brokers who operate in more than one state must complete separate applications, pay multiple licensing fees and meet different continuing education requirements in each state where they want to do business.
NARAB will oversee a standardized licensing platform to help insurance agents and brokers do business beyond their home states. While NARAB will implement national standards for nonresident licensing, agents and brokers will still be responsible for resident licensure under their home state's insurance regulations.
Appointed by the President with the advice and consent of the U.S. Senate, the NARAB Board will consist of 13 members, including eight state insurance commissioners and five insurance industry representatives.
Rothman has served as Minnesota Commerce Commissioner since January 2011, with jurisdiction over more than 20 regulated industries, including insurance. He is an active leader in the National Association of Insurance Commissioners.
Thank You for Helping MIIAB Reach Our
$26,000 InsurPac Goal
With the leadership of Roberta Gibbons; MIIAB once again reached our InsurPac goal of $26,000. This allowed IIABA to retain their $1,000,000 PAC Status.
Thank you to all the donors listed below for your generous support.
Plombon, J. Ted
Van Baak, Dorothy