On Monday, the Connecticut Insurance Department (CID) hosted a virtual information session for PHL Variable Insurance Co. policy and annuity…
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On Monday, the Connecticut Insurance Department (CID) hosted a virtual information session for PHL Variable Insurance Co. policy and annuity…
NAIC regulators field complaints about transparency, closed meetings
NAIC regulators defended the need for private meetings Tuesday as consumer advocates and industry representatives called for more transparency.
Regulators want indexed product sellers to get real with illustrations
The bid to reform indexed illustrations took another step this week with a presentation at the National Association of Insurance Commissioners’ spring meeting in San Diego.
Judge KOs Labor Department’s latest fiduciary rule
A federal judge officially killed the Department of Labor’s Retirement Security Rule on Tuesday.
Fiduciary Rule funeral: DOL joins industry in move to vacate Biden-era rule
The Department of Labor said in court documents this week that it supports a district court motion to vacate its Retirement Security Rule.
NAIC regulators work to tighten investment guideline on PRT transfers
The NAIC is readying a new guideline to tighten how insurance companies manage the massive wave of pension liabilities landing on their balance sheets.
Insurance Commissioner Patty Kuderer’s bill to provide restitution to policyholders who are harmed by their insurance company or agent passed the Washington state Senate on Wednesday, 29 to 20.
NAIC panel readies controversial RBC changes for fall meeting vote
Regulators discussed the purpose of risk-based capital data last week as work progressed on an at-times controversial set of RBC principles.
DOL fiduciary future murky as Fifth Circuit tosses appeal
The Department of Labor fiduciary rule is again on the ropes after the Fifth Circuit Court of Appeals dismissed the government’s appeal Friday.
‘Take this as a win’: NAIC creates new life insurance illustration group
The National Association of Insurance Commissioners is creating a new working group to address life insurance and annuity illustrations.
Apollo CEO fires back at UBS chair over ‘systemic risk’ comments
UBS Chairman Colm Kelleher said that insurers shopping for better ratings are creating a “looming systemic risk” to global finance. Marc Rowan disagreed.
The National Association of Insurance Commissioners announced Friday that Gary Anderson departed his position as the organization’s chief executive officer…
NAIC gets pushback on fast-track effort to add ‘rigor’ to 33-year-old RBC standard
State insurance regulators are moving with alacrity on a controversial plan to overhaul the risk-based capital (RBC) framework by the end of 2025.
DOL seeks another delay to decide on fiduciary rule future
The Department of Labor remains undecided about what to do with the Biden-era Retirement Security Rule, its latest attempt to expand fiduciary duty.
Cooling off period urged before regulators tackle proposal to hide RBC
A proposal to make a key measure of insurance companies’ financial health confidential is teed up for regulators to tackle in October.
NAIC regulators: Signs of ‘progress’ getting life insurers to cut spreads
State insurance regulators report “progress” getting life insurers to pull back on overly optimistic investment growth projections.
NAIC takes another swing at stricter rules on life insurance illustrations
State insurance regulators are again nibbling around the edges of an actuarial guideline designed to limit unrealistic life illustrations.
New NAIC task force urged to update RBC to avoid more insurer failures
An NAIC task force is tackling risk-based capital ratio in an effort to better identify “potentially weakly capitalized companies.”
NAIC committee unanimously passes reinsurance asset-testing guideline
A new asset-testing guideline for reinsurance deals will result in no direct action, even if regulators uncover negative numbers.
SEC’s Reg BI at year 5: ‘A glass half-full’ as challenges remain
After five years, many advisors and brokers remain divided on the Securities and Exchange Commission’s Regulation Best Interest.
