The Insured Retirement Institute said Monday it thinks one-stop multi-state licensing for insurance agents and brokers may become law even though a gridlocked Congress hasn’t passed much of anything this year and time is running out.

“Unprecedented momentum” exists for multistate licensing, IRI General Counsel Lee Covington told the annuity trade group’s annual government, legal and regulatory conference in Washington, D.C.

In the past, insurance brokers and agents tended to do business in only one or two states, but today many do business in many states, each with their own standards and licensing requirements.

Covington said multistate licensing is important for insurance advisors so they can keep existing customers over time. According to polls, 43 percent of investors say they may retire to another state and 75 percent of baby boomers say they want to keep working with their current advisor if they relocate.

IRI believes the way that multistate licensing could be passed would be for a provision allowing it to be attached to a bigger bill with widespread support. The House Financial Services Committee has added a multistate licensing amendment to legislation reauthorizing the popular terrorism risk insurance program. Congress needs to approve a continuation of the program or it ceases by the end of 2014.