July 13, 2016
White House to nominate Missouri Insurance Director Huff for National Insurance Board
Jefferson City, Mo - President Obama has announced his intent to nominate Missouri Department of Insurance Director John M. Huff to serve on the Board of Directors of the newly created National Association of Registered Agents and Brokers (NARAB). This national organization will create a one-stop licensing process for insurance agents and brokers who seek to do business in multiple states.
"These fine public servants bring a depth of experience and tremendous dedication to their important roles. I look forward to working with them," President Obama said in a press release issued by the White House.
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.
"I am honored by President Obama's announcement and look forward to serving on NARAB's Board of Directors," said Huff. "It is imperative that we leverage technology and cut burdensome red tape to reduce regulatory costs so that insurance agents and brokers can continue to effectively serve consumers."
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.
Huff has served as Director of the Missouri Department of Insurance, Financial Institutions and Professional Registration since 2009. He is also the 2016 President of the National Association of Insurance Commissioners.
About the Missouri Department of Insurance, Financial Institutions & Professional Registration
The Missouri Department of Insurance, Financial Institutions and Professional Registration (DIFP) is responsible for consumer protection through the regulation of financial industries and professionals. The department's seven divisions work to enforce state regulations both efficiently and effectively while encouraging a competitive environment for industries and professions to ensure consumers have access to quality products.