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This Working Group is charged with addressing the reciprocity issues raised in the Producer Licensing Assessment Aggregate Report of Findings and providing policy direction in the area of business entity licensing and other producer licensing issues. It will also provide input and recommendations to the Executive Committee, as requested, on matters of proposed federal legislation relating to producer licensing.
Specifically, the working group is charged to:
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Evaluate the reciprocity status of states that are not currently certified as reciprocal but whose producer licensing laws have been reviewed by the NAIC Legal Division as eligible for reciprocity certification and recommend by the 2008 Summer National Meeting whether one or more of these states should be deemed reciprocal based on the 2002 reciprocity standard.
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Evaluate the reciprocity standard developed by the NAIC’s 2002 NARAB (EX) Working Group and make recommendations by the 2008 Summer National Meeting for revisions or additions to the standard to address the issues identified in the Producer Licensing Assessment Aggregate Report of Findings including the various state requirements that are imposed upon non-residents but may not have been specifically addressed in the 2002 reciprocity standard. Provide a recommended plan by the 2008 Summer National Meeting for accomplishing the certification process for states regarding any revisions or additions to the 2002 reciprocity standard.
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Evaluate the key findings and issues regarding disparate business entity licensing laws, regulations and practices identified in the Producer Licensing Assessment Aggregate Report of Finding and provide policymaking recommendations by the 2008 Fall National Meeting for simplifying and standardizing the business entity licensing process through considering all options ranging from elimination of the licensing of business entities to elimination of components of the process such as licensing by line of authority or by each branch location.
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