Independent claims adjusters are seeking to be treated the same way as insurance agents and brokers when it comes to the issue of nonresident state licensing. Arguing that the issues they face in the realm of nonresident multiple state licensing (which can be expensive and cumbersome) as agents and brokers did before the enactment of the National Association of Registered Agents and Brokers, independent adjusters are backing a bill from Tennessee U.S. Representative Stephen Fincher. The bill, H.R. 2998 – Claims Licensing Advancement for Interstate Matters Act, would allow adjusters to be members of NARAB. The National Association of Insurance Commissioners (NAIC) is said to be against the bill.
Read complete coverage from Business Insurance here.