NAIC Sets Meeting To Finalize Best Interest Rule For Annuities
September 8, 2018 by John Hilton
A National Association of Insurance Commissioners’ working group will meet next month in Chicago for two days in hopes of finalizing a best-interest standard for annuity sales.
The Annuity Suitability Working Group plans a repeat of its May 31-June 1 meeting in Kansas City, this time Oct. 22-23 in the windy city. Meeting for a full day, then until noon the second day, the group was able to reach on consensus on several contentious issues.
But several issues remain and the group did not make much headway during the NAIC Summer Meeting in Boston, held in early August.