Tracy Jones – Moderator
3 min read
Advocacy in Action Day: “Growing Grassroots: Why Relationships Matter”
Topics: State Advocacy COVID-19 Federal Advocacy Grassroots
1 min read
Iowa Enacts Best Interest Standard for Annuity Transactions
On May 11 Iowa insurance regulators adopted revisions to the state’s regulations on annuity recommendations and sales to require producers and insurers to act in the best interests of annuity purchasers. Under the revised rules, producers must not put their own financial interests ahead of consumers’ interests. These revisions track amendments made earlier this year by the National Association of Insurance Commissioners (NAIC) 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: State Advocacy Standard of Care & Consumer Protection Annuity Best Interest Iowa Insurance & Financial Advisor Regulation
1 min read
NAIFA to Host Online CEO Panel
NAIFA’s Online CEO Panel
Tuesday, May 12 at 1 PM EDT
Free to all financial professionals
NAIFA is bringing together CEOs from the insurance and financial services industry’s top associations to discuss our collaborative efforts during the COVlD-19 crisis to address financial security on Main Street USA. NAIFA CEO Kevin Mayeux will moderate a panel consisting of:
Topics: State Advocacy COVID-19 Federal Advocacy Grassroots
1 min read
D.C. Council Removes Business Interruption Insurance Measure from Omnibus Bill
All eyes were on the Washington, D.C., Council on Tuesday morning. Included in its “Coronavirus Omnibus Emergency Amendment Act of 2020” was a proposal to essentially rewrite business income insurance policies and require the industry to pay for losses that were not covered. The Council ultimately agreed to withdraw the language before passing the omnibus bill. The business interruption insurance measure could have threatened the financial solvency of the District's insurance industry, so having it removed was a major win for insurers.
Topics: State Advocacy COVID-19 Washington, D.C.
2 min read
NAIFA Family Response Fund to Help NAIFA Members With COVID-19 Expenses
NAIFA has announced the creation of the NAIFA Family Response Fund to help NAIFA members with expenses related to the COVID-19 outbreak. The fund will benefit NAIFA members and their legal dependents who face financial hardship due to unexpected out-of-pocket medical or funeral expenses related to the COVID-19 outbreak.
Topics: State Advocacy COVID-19 Federal Advocacy Grassroots
1 min read
New York Issues Emergency Regulations Requiring Insurer and Producer Notifications to Clients
The New York State Department of Financial Services (DFS) recently issued emergency regulations describing the notifications that insurers and agents must provide to their policyholders regarding the flexibility being given regarding premium payments, policy lapse and renewal and other topics. The new regulations—11 NYCRR 229.5(b) and 3 NYCRR 405.6(b)(4).
>View the Regulations
Topics: State Advocacy Standard of Care & Consumer Protection New York Grassroots
5 min read
COVID-19: Changing how we live, work… and vote
On Sunday, March 29th, President Donald Trump extended his coronavirus guidelines for America, announcing 30 Days to Slow the Spread, effectively extending the minimum time for most Americans to remain at home until April 30th.
Topics: State Advocacy COVID-19 Federal Advocacy Grassroots
COVID-19 Impacts Life Insurance Applications
Some reinsurers and primary insurance companies have announced that they will temporarily stop accepting applications for some life insurance policies. The COVID-19 outbreak has injected a new level of uncertainty into the marketplace and made it difficult for insurers to complete underwriting tasks, such as medical exams. Low interest rates are also having an impact on carriers’ business models.
Topics: State Advocacy COVID-19 Federal Advocacy Grassroots
8 min read
NAIFA State Advocacy Amidst COVID-19: A Glimpse into the Unknown
NAIFA State Advocacy Amidst COVID-19: A Glimpse into the Unknown
Topics: State Advocacy COVID-19
1 min read
NAIFA Urges States to Temporarily Ease Insurance Licensing Requirements
NAIFA CEO Kevin Mayeux, along with several industry colleagues, has sent a letter to every state insurance licensing authority requesting temporary licensing accommodations for producers who cannot complete regular licensing requirements because of the COVID-19 outbreak.
