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Mission
The main work of the Suitability of Annuity Sales (A) Working Group will be to review the NAIC Suitability in Annuity Transactions Model Regulation to determine whether the standards in the model regulation related to agent training, supervision and monitoring need to be revised to better protect annuity consumers from unsuitable sales and abusive sales and marketing practices. This review will include the review of state and industry activities in these areas.
2009 Charge
Review and consider changes to the Suitability in Annuity Transactions Model Regulation to improve the regulation of annuity sales and to provide insurers uniform guidance in developing agent training, supervision and monitoring standards in order to better protect annuity consumers from unsuitable sales and abusive sales and marketing practices. |
