NAIC task force releases draft model legislation
NAIC’s newly formed Executive Task Force on Broker Activities has released draft model legislation that would implement new disclosure requirements designed to ensure consumers are provided the information necessary to understand the manner in which brokers are compensated for the sale of insurance products.
As proposed, the draft model legislation would amend NAIC’s current Producer Licensing Model Act. The draft is part of ongoing efforts by state insurance regulators to address issues surrounding theOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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