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Insurance Regulations Annuities Insurance Industry

Bressler, Amery & Ross, P.C.

New Jersey Adopts the “Best Interest” Standard in Annuity Transactions

On April 21, New Jersey became the 50th and final state to adopt the Best Interest standard for annuity transactions. The new New Jersey standard is based on the National Association of Insurance Commissioners (NAIC)...more

Carlton Fields

New Year, New Index-Linked Variable Annuity Actuarial Guideline?

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On November 29, the NAIC Index-Linked Variable Annuity (A) Subgroup (ILVA Subgroup) issued a proposed actuarial guideline to clarify the application of NAIC Model 250, Variable Annuity Model Regulation, and NAIC Model 805,...more

Carlton Fields

As Students Return to School, Regulators Continue Their Study of the NAIC’s Suitability in Annuity Transaction Model Regulation

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At the 2018 NAIC Summer National Meeting, regulators continued their efforts to define the standard of care that applies to recommendations. This subject was discussed at both the Annuity Suitability (A) Working Group...more

Carlton Fields

Florida's OIR Provides Guidance on Annuity Maturity Date Extensions

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On December 15, the Florida Office of Insurance Regulation (OIR) issued an Informational Memorandum, OIR-15-08M (Memorandum) regarding the extension of annuity contracts maturity dates beyond their original date. The...more

Carlton Fields

Federal Regulation of Fixed Equity Indexed Annuities Redux?

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When SEC Commissioner Luis A. Aguilar recently cited "the need for the Commission and state regulators to focus on combatting fraud involving complex securities" including "equity-indexed annuities," he did not discuss...more

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