Advocacy in action blog

California Governor Gavin Newsom has signed legislation that incorporates the National Association of Insurance Commissioners (NAIC) model for annuity transactions. NAIFA Kevin Mayeux, CAE, released the following statement:

American Council of Life Insurers (ACLI) President and CEO Susan Neely and NAIFA-New Hampshire Past President Dawn Chambers issued the following joint statement on the best interest annuity rule adopted recently by the New Hampshire Insurance Department:

NAIFA has strong advocacy relationships with interstate organizations like the National Association of Insurance Commissioners (NAIC), National Council of Insurance Legislators (NCOIL), and North American Securities Administrators Association (NASAA). We attend their meetings, provide input through comments and testimony, and work with them on resolutions and model regulations that impact consumers and the insurance and financial services industry. 

American Council of Life Insurers (ACLI) President and CEO Susan Neely and NAIFA-Oklahoma President Whitney Jessee issued the following joint statement on the best interest annuity rule adopted recently by the Oklahoma Insurance Department:

This afternoon, the National Conference of Insurance Legislators (NCOIL) adopted a NAIFA-backed resolution that opposes potential fiduciary rulemaking by the Department of Labor (DOL). 

American Council of Life Insurers (ACLI) President and CEO Susan Neely and NAIFA-Washington President Karl Kuntz issued the following joint statement on legislation signed into law in Washington that strengthens protections for annuity consumers:

“The new law sponsored by Representative Kristine Reeves, approved by the legislature, and signed by Governor Jay Inslee strengthens protections for consumers in Washington state seeking lifetime income through annuities.

A new rule adopted recently by the Illinois Department of Insurance provides greater safeguards for consumers seeking lifetime income from annuities. Illinois is the 32^nd state to adopt a measure that implements the “best interest of consumer enhancements” in the National Association of Insurance Commissioners (NAIC)  Suitability in Annuity Transactions Model Regulation.  The new laws and regulations also align with the SEC’s Regulation Best Interest.

NAIFA would like to congratulate newly elected National Association of Insurance Commissioners (NAIC) elect officers for 2023:

• President: Missouri Insurance Director Chlora Lindley-Myers. Chlora Lindley-Myers was confirmed as the director of the Missouri Department of Commerce and Insurance on April 13, 2017.