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Julie Harrison


Recent posts by Julie Harrison

1 min read

NAIFA Backs Ohio’s Suitability in Annuity Trans-actions Proposal Albeit Minor Edits

By Julie Harrison on Jun 23, 2020 5:41:30 PM

Ohio’s Department of Insurance recently proposed updates to its “3901-6-13 Suitability Annuity Transactions” rule.  The state’s Director of Insurance, Jillian Froment, chaired the National Association of Insurance Commissioner’s Annuity Suitability Working Group while the working group crafted revisions to the NAIC’s “Suitability In Annuity Transactions Model Regulation (#275).”  As expected, the Ohio proposal is similar to the model. It establishes a new standard of conduct that goes beyond the rule’s current suitability standard, but it is not a fiduciary standard. 

Topics: NAIC Model Regulation
1 min read

Arizona Annuity Sales Standards Bill Signed Into Law

By Julie Harrison on Jun 9, 2020 2:55:02 PM

Arizona Governor Doug Ducey signed into law SB 1557 on Friday June 5, 2020. The measure will amend the state’s requirements governing annuity recommendations and sales by requiring producers and insurers to act in the best interest of annuity purchasers and to not put their own financial interests ahead of the consumers’ interest. These revisions track amendments made earlier this year by the National Association of Insurance Commissioners to the NAIC Suitability in Annuity Transactions Model Regulation, which aligns well with the SEC’s Regulation Best Interest and will raise the standard of care required of financial professionals while preserving consumers’ access to valuable financial advice, services and products.

Topics: Annuities
8 min read

NAIFA State Advocacy Amidst COVID-19: A Glimpse into the Unknown

By Julie Harrison on Apr 3, 2020 6:08:49 PM

NAIFA State Advocacy Amidst COVID-19: A Glimpse into the Unknown

Topics: State Advocacy COVID-19

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