ACLI President and CEO Susan Neely and NAIFA-Florida President Jeff Chernoff issued the following joint statement on legislation signed into law in Florida that strengthens protections for annuity consumers:
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Florida Governor Signs Enhanced Protections For Annuity Consumers Into Law
By NAIFA & ACLI on 5/26/23 4:30 PM
Topics: State Advocacy Interstate Advocacy Press Release Annuity Best Interest Florida
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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
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West Virginia Adds Financial Literacy to High School Graduation Coursework Requirements
By Bianca Alonso Weiss on 3/31/23 2:49 PM
The NAIFA state legislative wins continue! This time it’s NAIFA-West Virginia that is celebrating being the 19th state to adopt financial literacy coursework as a requirement for high school graduation. HB 3113 was signed into law by Governor Jim Justice on March 23, 2023. NAIFA-West Virginia worked closely with the West Virginia Education Association to advocate for the bill in both chambers.
Topics: State Advocacy Financial Literacy Promoting Financial Security West Virginia
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Tennessee Adopts Legislation to Expand Producer Recruitment
By Bianca Alonso Weiss on 3/28/23 8:27 AM
Tennessee Governor Bill Lee signed SB 1369 into law on March 21, 2023, making Tennessee the 24th state to eliminate producer pre-licensing mandates. NAIFA-Tennessee applauds and thanks bill sponsors Senator Steve Southerland and Senator Ken Yager for carrying the legislation. NAIFA-Tennessee worked hard on the ground to educate lawmakers on the positive change this will be for increasing producer recruitment.
Topics: State Advocacy Licensing Supported Legislation Tennessee
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Idaho Adopts High School Financial Literacy Education Requirement
By NAIFA on 3/23/23 2:27 PM
NAIFA is celebrating a major legislative win out of Idaho. On March 20, 2023, Idaho Governor Brad Little signed H. 92 into law, making Idaho the 18th state to adopt financial literacy coursework as a requirement for high school graduation. The bill passed the Idaho House of Representatives 67-0-3 and the Idaho Senate 34-0-1.
Topics: State Advocacy Financial Literacy Idaho Supported Legislation
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NAIFA-TN Blocks Bill That Would Have Required Agents to Share Clients' Personal Information
By NAIFA on 3/22/23 4:57 PM
Tennessee House Bill 1173 would have permitted funeral directors in some cases to obtain life insurance information – including the names of beneficiaries and policy benefits amounts – from insurance companies or agents. However, thanks to quick action by NAIFA-TN's grassroots and advocacy team, the House Insurance Subcommittee defeated the bill.
Topics: Life Insurance & Annuities State Advocacy Opposed Legislation Tennessee
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NAIFA-CA Urges Lawmakers to Amend Bill That Would Harm Life Insurance Producers and Consumers
By NAIFA on 3/17/23 4:51 PM
NAIFA's California chapter is holding its annual Legislative Day in Sacramento on March 29. The event will feature visits with lawmakers by NAIFA-CA members, during which they will discuss SB 263, a legislative proposal that in its current form would harm the ability of insurance agents and brokers to serve the public.
Topics: Life Insurance & Annuities Legislation & Regulations State Advocacy Standard of Care & Consumer Protection Press Release California Legislative Day
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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
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No One Does State Advocacy Like NAIFA
By NAIFA on 2/24/23 3:23 PM
NAIFA is the only association for insurance and financial professionals with a strong political advocacy presence in Washington, D.C., and every state capital. Around the country, 32 NAIFA state chapters are holding Legislative Days during the first quarter of 2023.
Topics: State Advocacy Legislative Day
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Retirement Planning Options Offset the Need for a State-Run Plan in Washington State
By NAIFA on 2/16/23 5:14 PM
NAIFA Policy Director Maeghan Gale testified to Washington state lawmakers that ample private-sector options are available for employers who want to set up retirement plans for their workers or for employees who want to prepare for retirement on their own. Washington lawmakers are considering a feasibility study for a potential state-facilitated Auto-IRA program.