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Advocacy in action blog

2 min read

New Wisconsin Law Boosts Protections for Annuity Consumers

By NAIFA & ACLI on 4/18/22 9:58 AM

Legislation signed into law by Wisconsin Governor Tony Evers greatly enhances protections for consumers seeking lifetime income from annuities. The law was proposed by Senator Rob Stafsholt (R-New Richmond) and Representative Kevin Petersen (R-Waupaca). Wisconsin is the 23rd state that as part of a nationwide, bipartisan effort has adopted measures implementing 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 Standard of Care & Consumer Protection Wisconsin Annuity Best Interest Insurance & Financial Advisor Regulation
2 min read

Wisconsin Legislature Strengthens Protections for Annuity Products

By Bianca Alonso Weiss on 3/2/22 11:41 AM

NAIFA-WI is celebrating their most recent legislative win – both chambers of the Wisconsin Legislature passed the National Association of Insurance Commissioners (NAIC) Model Regulation for Annuities.

The Wisconsin Assembly concurred on Senate Bill 644, the annuity best interest model bill, on February 23, 2022, during what is likely its final week of session in the house for the year. The state Senate passed it on January 25.

Topics: State Advocacy Standard of Care & Consumer Protection Wisconsin Annuity Best Interest Insurance & Financial Advisor Regulation
2 min read

NAIFA-WI Builds Advocacy Momentum With In-District Events

By NAIFA on 8/24/21 10:02 AM

Politically active members of NAIFA's Wisconsin chapter have maintained NAIFA's grassroots advocacy push throughout June, July, and August. According to NAIFA Senior Vice President for Government Relations Diane Boyle, NAIFA-WI leads all NAIFA's state chapters in in-district meetings with lawmakers and their staff this summer.

Topics: Wisconsin Federal Advocacy Grassroots
1 min read

Cybersecurity Bill Passes Wisconsin Senate With NAIFA Amendment

By NAIFA-Wisconsin on 6/9/21 4:50 PM

New data security standards for the insurance industry passed the Wisconsin State Senate on June 9, 2021, on a voice vote. 

Topics: State Advocacy Wisconsin Cybersecurity
1 min read

NAIFA-WI Pushes Back on Potential Layering of Data Privacy Regulations

By NAIFA on 6/11/20 12:10 PM

NAIFA-WI teamed up with other trade associations representing the insurance and financial services industry to push back on a potential regulatory proposal that would complicate existing data privacy and security laws. 

Topics: Legislation & Regulations State Advocacy Wisconsin

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