In an effort to keep the possibility of a national insurance broker licensing clearinghouse alive, the language for
NARAB II
Were extremely pleased, it demonstrates that theres a lot of momentum for NARAB, says John Prible, vice president of federal government affairs at The Big I, Independent Insurance Agents and Brokers of America. If passed in this manner, however, he says it will also need to be attached to the Houses version of the flood insurance bill and the House and Senate flood bill are probably not going to be too similar.
But, the NARAB language in both chambers is identical, which Prible says will help during the flood insurance bill reconciliations if passed by both the House and Senate.
Background
Earlier this year the Senates standalone version of NARAB II,
Jill Hoffman, assistant vice president of federal government relations at the National Association of Insurance and Financial Advisors, said at the time of the markup that Coburns amendment would gut the bill.
The sponsors of the flood insurance legislation are Sens. Robert Menendez (D-N.J.) and Johnny Isakson (R-Ga.).
Prible says the exact timing of the vote during the week is unknown, though cloture the motion to end debate will likely be filed Monday, Jan. 27 in the evening.