Getting Up to Speed on the New NAIC Best Interest Rule

[Originally broadcast on March 12, 2020]


Now that the NAIC has added the best-interest standard to its Suitability in Annuity Transactions Model Regulation—and a significant number of states are expected to adopt the change this year (with most of the rest expected to act in the next year or two), what do producers need to know before they resume (or start) selling annuities to client? And what do companies have to do to make this happen?

For this webinar, Jason Berkowitz, Chief Legal & Regulatory Affairs Officer for the Insured Retirement Institute (IRI), will begin to answer your most pressing questions on these topics. Berkowitz was a major industry participant in the NAIC drafting of these rules, including changes to the producer training rules. During this webinar, “Getting Up to Speed on the New NAIC Best Interest Rule,” Berkowitz addresses:

  • Changes made to the NAIC Suitability in Annuity Transactions Model Regulation;
  • How the new NAIC best-interest standard meshes with the SEC Reg BI and how it differs from New York’s Reg 187;
  • Training requirements that producers need to meet before recommending annuities to their clients; and
  • The one-hour update training that producers can take to meet the requirement if they were previously trained under the old rule.
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