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What is “Agents for Change?”

Agents for Change is a trade association of insurance agents and brokers from across all lines of insurance working together to reform insurance regulation and enact an optional federal charter (OFC) to allow producers the option of being regulated at either the federal or the state level. Members of Agents for Change participate in policy development and provide public policy makers with expert advice as they move forward to modernize insurance regulation.

There are distinct advantages for agents and brokers within the framework of an OFC. These include: (1) time spent on licensing issues would be greatly diminished; (2) speed to market of products would be greatly enhanced; (3) consumers would have additional products at more competitive rates from which to choose; and (4) the ability to better serve customers no matter where they may reside.

Insurers would be able to bring their products to market more quickly because they would only have to obtain approval from a single regulatory body, rather than in multiple states as they do now under the patchwork quilt of state regulation. And consumers, who often move from state to state in today’s economy, would benefit from more stable insurance premiums and consistent administration and regulation of their insurance policies.

It’s about communication and it’s time for your voice to be heard on Capitol Hill. If you haven’t already, please take a few minutes to sign up for issue alerts and join our association.

Optional Federal Charter Recommended by the Administration

On March 31, 2008 the United States Department of the Treasury endorsed an Optional Federal Charter

Bipartisan Optional Federal Charter Legislation
Reintroduced in Both Chambers of the 110th Congress

On July 26, 2007 Representatives Melissa Bean (D-IL) and Ed Royce (R-CA) reintroduced the National Insurance Act of 2007 (H.R. 3200) in the House of Representatives

On May 24, 2007 Senators Tim Johnson (D-SD) and John Sununu (R-NH) reintroduced the National Insurance Act of 2007 (S. 40) in the Senate

Agents for Change strongly supports these companion bills and commends the sponsors for their vision and leadership

News:
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Links and Information:

“The Commissioners are now fully prepared to go before their various legislative committees with recommendations for a system of insurance law which shall be the same in all States – not reciprocal, but identical; not retaliatory, but uniform.”

Statement expressing the desire for a uniform insurance regulatory system made by George W. Miller, NY Insurance Commissioner and founder National Association of Insurance Commissioners, at the close of the very first meeting of the NAIC in 1871

"Every man owes a part of his time and money to the business or industry in which he is engaged. No man has a moral right to withhold his support from an organization that is striving to improve conditions within his sphere."

Theodore Roosevelt,1908