Insurance Regulatory Information Network Changes to National Insurance Producer Registry

The Insurance Regulatory Information Network has changed its name to the National Insurance Producer Registry to reflect the group’s accelerated effort to establish national producer licensing for the insurance industry.

“State insurance regulators have been working to streamline licensing through a series of technology-based initiatives for the last four years,” said Glenn Pomeroy, North Dakota insurance commissioner and NIPR board president. “The new financial services marketplace has led us to intensify our efforts.”

By using NIPR as a central clearinghouse for non-resident licensing information, efficiencies will be realized that exceed expectations outlined in the National Association of Registered Agents and Brokers provisions of the Gramm-Leach-Bliley Act. Through non-resident licensing, the states have agreed to license non-resident producers, who are in good standing in their states, without imposing additional restrictions or qualifications not required of resident producers. Via the NIPR gateway, this process will become electronic, currently scheduled for third quarter 2000.

NIPR will continue to operate from its offices in Kansas City, Mo. Pending the release of NIPR’s new web site, NIPR information and services, including the Producer Database and the Producer Information Network, will remain available at www.irin.org. Interested parties may also contact the NIPR offices by calling 816/783-8468.

Topics Legislation