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The National Association of Insurance Commissioners’ Executive Committee and Plenary adopted a pair of resolutions Thursday to wrap up work on key issues for life insurers. An effective date was established for AG 49A, and the nonforfeiture rate was dropped from 1% to 0.15%. Conflicts arose with both changes.

The National Association of Insurance Commissioners ended their fall meeting by electing a new slate of 2021 officers, with President-elect Dean Cameron announcing that he has COVID-19. Cameron, 59, is a former longtime Idaho state senator and that state’s insurance commissioner.

New anti-rebating language will permit insurers or producers to “offer or give non-cash gifts, items, or services, including meals to or charitable donations on behalf of a customer, in connection with the marketing, sale, purchase, or retention of contracts of insurance.”
President-elect Joe Biden with his expected nominee for Health and Human Services, Xavier Becerra.

Although the possibility of a public health care option is off the table for now, the individual health insurance market could see some changes under a Biden administration, according to the president of the American Benefits Council.

Two of the largest life insurers in the U.S. announced executive hires today to advance their respective diversity and inclusion strategies. The moves come as the industry continues work to fulfill commitments to diversity and inclusion made in the aftermath of the summer racial strife that spread across the United States.

Low interest rates have been slamming annuity sales, but multi-year guaranteed annuities have had their best quarter yet. Sheryl J. Moore tells why these CD-like annuities are burning up.

In this interview with Publisher Paul Feldman, David McKnight reveals how advisors can use the tax message as their rallying cry and their killer sales proposition. He also shares tips on how advisors can improve their remote selling game.  

The package is trillions of dollars less than Democrats say are necessary to help Americans, but it provides aid to critical areas such as unemployment compensation and vaccine distribution.

The vote in favor of Waller’s appointment was 48-47. Waller, research director for the St. Louis Federal Reserve Bank, taught economics for nearly 25 years before joining the St. Louis Fed in 2009. He has endured far less scrutiny than Judy Shelton, the controversial nominee he was paired with and who was voted down in the Senate last month.

Delaware is the latest state to tentatively commit to add a best-interest annuity sales standard to its regulation of insurance products. The state is accepting comment until Jan. 5 in an amendment to its suitability in annuity transactions regulation. If all goes well, the best-interest standard will be officially published on Aug. 1, 2021.

The Employee Benefit Research Institute and Greenwald Research released results of their 2020 Workplace Wellness Survey, which showed workers are financially stressed since the onset of the pandemic and want their employers to support them in their financial well-being.