A new survey by the National Association of Insurance and Financial Advisors shows that the federal health care law’s medical loss ratio provision has had a devastating effect on agents’ ability to maintain a high level of customer service to their clients.

Sens. Jon Tester (D-Mont.) and Mike Johanns (R-Neb.) have introduced the National Association of Registered Agents & Brokers Act (NARAB II), which would establish a federal licensing clearinghouse for insurance agents who operate in multiple states.

Financial Services Committee Chairman Spencer Bachus and Rep. Carolyn McCarthy, a member of the Committee, introduced bipartisan legislation calling for a self-regulatory organization to fill gaps in Securities and Exchange Commission (SEC) oversight of investment advisers.

The life insurance industry’s highest honor will be presented at the NAIFA Career Conference and Annual Meeting in September as a tribute to his more than 40 years of service and contributions to the industry.