Beginning this month, Massachusetts insurance agents can choose whether to renew their resident producer licenses online on either the National Insurance Producer Registry website or the Division of Insurance’s Ollie. Massachusetts’ decision to join this national registry makes it the the fiftieth state to join the NIPR Licensing System.
Incorporated in 1996, the NIPR is a non-profit affiliate of the NAIC and is governed by a 13 member board of directors and its goal is to create a one-stop shopping system for all aspects of electronic producer licensing by “…making the producer-licensing process more cost-effective, streamlined and uniform for the benefit of regulators, the insurance industry and the consumers they protect and serve.” The NIPR has developed and implemented two systems to help achieve that goal: the Producer Database and the NIPR Gateway.”
The National Association of Professional Insurance Agents applauded the Commonwealth’s decision. “This is excellent news for independent agents who increasingly operate in multiple jurisdictions,” said PIA Assistant Vice President for Regulatory Affairs David Eppstein. “The ability to obtain and maintain licenses electronically allows Main Street agents to focus on what they do best, serving consumers. This is also good news for supporters of state regulation, as it demonstrates that the states can work together to implement an integrated nationwide insurance licensing system without federal preemption.”
Agents Take Note: While Massachusetts resident licensing renewals became effective as of August 1st, non-resident license renewals do not begin until tomorrow, August 12th. Vist the NIPR website for more information.