NAIC Annuity Sales Model Won’t Be Done In Time For Fall Meeting

CHICAGO - A National Association of Insurance Commissioners working group has been hashing out an annuity sales model. But the group's chair says the model will not be done in time for NAIC's fall meeting in San Francisco next month.

The working group will provide a "framework" for NAIC and the states as the regulation is developed in the future, Dean Cameron said.

.@naic working group members (l) James Regalbuto and chair Dean Cameron explain the annuity sales model to representatives from Jackson National (right). pic.twitter.com/wtIGt3WYW5

— INNJohn (@INNJohnH) October 23, 2018

Iowa Insurance Commissioner Doug Ommen (kneeling) huddles with regulators during an @naic working group break. pic.twitter.com/2CzjPvBCTI

— INNJohn (@INNJohnH) October 23, 2018

Momentum growing to include "in-force" policies in @Naic annuity sales transactions model. Rhode Island and New Hampshire voicing support. @InsNewsNet

— INNJohn (@INNJohnH) October 23, 2018

InsuranceNewsNet Senior Editor John Hilton has covered business and other beats in more than 20 years of daily journalism. John may be reached at john.hilton@innfeedback.com. Follow him on Twitter @INNJohnH.