NAIFA’s Policy Director Roger Moore attended NAIC’s Summer National Meeting on August 12-15, where he had the opportunity to strengthen NAIFA’s relationships with state regulators and industry trade partners as well as advocate for key priorities affecting NAIFA’s members. The NAIC Committees discussed multiple topics of interest to NAIFA, including long-term care insurance, access to life insurance and annuities in underserved communities, privacy protections, product illustrations, and producer licensing issues. Roger also attended the latest meeting of the National Insurance Producer Registry (NIPR) Board of Directors, where he continues to sit as a non-voting member.

In Connelly vs. United States, the Supreme Court (SCOTUS) ruled that life insurance proceeds increased the value of a closely held business’ stock and therefore had to be included in valuation of the company for estate tax purposes. The ruling impacts some buy-sell agreements where the life insurance is owned by the company rather than by the individuals who own the company.

NAIFA’s Policy Director Roger Moore attended NAIC’s Spring National Meeting on March 15-18, where he had the opportunity to strengthen NAIFA’s relationships with state regulators and industry trade partners, as well as advocate for key priorities affecting NAIFA’s members.

On September 29, the U.S. Securities and Exchange Commission issued a proposed rule to implement the Registration for Index-Linked Annuities (RILA) Act, which directed the SEC to devise a new form for annuity issuers to use when filing registered index-linked annuities (RILAs). That legislation was enacted in December 2022 as part of the Consolidated Appropriations Act, 2023 which also included the Secure 2.0 Act.