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Annuity rule likely won’t include a fiduciary standard, NAIC says
The new language, which is still subject to change, explicitly states what had largely been assumed.
New York issues final best-interest regulation for annuity, life insurance sales
State insurance commissioners don't include life products in their annuity suitability reform.
Iowa insurance regulator cautions SEC about modifying suitability rule
Iowa insurance regulator asserts the current rule is protecting investors and worries that the SEC is defining 'best interest' differently than what it means under state law.
New York lobbies for nationwide ‘best-interest’ standard for life insurance sales
Such a rule would mark a big shift in the way life insurance is currently regulated by the states.
Critics say regulation hasn’t curbed overly rosy projections for indexed universal life insurance
They say rule didn't go far enough and more stringent measures may be necessary.
States may strengthen rules for selling annuities
Under a draft proposal being considered by insurance commissioners, agents would be required to put "the interests of the consumer first and foremost."
Consumer and insurance groups disagree on advice standard for annuity sales
Consumer groups and American Council of Life Insurers square off over how stringent the investment advice standard should be.
Treasury calls on financial regulators to coordinate cybersecurity oversight
Highlighting 'fragmentation and overlap,' department suggests establishing one lead agency to align federal and state efforts.
State insurance regulators look to DOL fiduciary rule as they mull changes to annuity sales standard
The National Association of Insurance Commissioners is taking a fresh look at the suitability standard for annuities and considering making it a best-interests standard.
State insurance commissioners consider strengthening annuity sales rules
DOL fiduciary rule inspires questions about whether annuity transactions' current suitability standard is sufficient.
State officials to flag brokers with disciplinary history selling insurance
The National Association of Insurance Commissioners to launch program to inform state insurance officials about agents in their state who have a disciplinary history with Finra.
Former senator to lead insurance regulators’ group
Ben Nelson of Nebraska to head up National Association of Insurance Commissioners
States’ probe of death benefit payouts could spawn regs
A continuing three-year, 35-state investigation into the practices by which life insurers pay death benefits may spawn more-stringent requirements for locating beneficiaries
Insurance regulators vote for stronger annuity disclosure
A group of state insurance regulators voted yesterday to adopt amendments to an annuity disclosure model that would give customers a detailed breakdown of product features.
Insurers to be responsible for fixed-annuity suitability
Fixed-annuity sales are about to receive a new layer of supervision from state regulators.
Insurance regulators bolster annuity suitability rules
Previously, the suitability rule imposed an obligation on insurers only with respect to variable annuities. Now it includes variable annuities as well.
Pimco to help set capital buffers for insurers’ mortgage-backed securities
The National Association of Insurance Commissioners has chosen the Pacific Investment Management Co. LLC to help regulators determine…
Industry officials sound off on federal insurance office proposal
Regulators and representatives of the insurance industry appeared before Congress today to discuss a new draft of the Federal Insurance Office Act of 2009.
Advisers wary of insurance industry’s mortgage-backed-securities proposal
Financial advisers and consumer advocates are skeptical of a proposal from the life insurance industry that could reduce the amount of capital that carriers need to hold against residential-mortgage-backed securities.
Ratings agencies under fire over residential-mortgage-backed securities
National ratings agencies re-ceived criticism Thursday at a meeting of the insurance industry for their failure to properly…
