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Advocacy in action blog

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Oklahoma Becomes 40th State to Adopt Enhanced Protections for Annuity Consumers

By NAIFA & ACLI on 8/16/23 10:37 AM

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:

Topics: Press Release NAIC Model Regulation Annuity Best Interest Oklahoma
2 min read

NCOIL Adopts NAIFA-Backed Resolution Opposing Potential Fiduciary Rulemaking by the DOL

By NAIFA Government Relations Team on 7/21/23 5:49 PM

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). 

Topics: NAIC Model Regulation DOL NCOIL Regulation Best Interest Fiduciary
2 min read

New Law Enhances Protections for Washington State Annuity Consumers

By NAIFA & ACLI on 4/14/23 5:07 PM

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.

Topics: Life Insurance & Annuities State Advocacy Interstate Advocacy Press Release NAIC Model Regulation Annuity Best Interest Washington
2 min read

Illinois Enhances Protections for Annuity Consumers

By NAIFA & ACLI on 2/24/23 4:10 PM

A new rule adopted recently by the Illinois Department of Insurance provides greater safeguards for consumers seeking lifetime income from annuities. Illinois is the 32nd 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.

Topics: State Advocacy Press Release NAIC Model Regulation Annuity Best Interest
2 min read

NAIFA Congratulates 2023 NAIC Leaders

By NAIFA on 12/19/22 2:43 PM

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.
Topics: Press Release NAIC Model Regulation

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