New York lobbies for nationwide ‘best-interest’ standard for life insurance sales
January 27, 2018 by Greg Iacurci
New York State is lobbying for a higher standard of care for life insurance sales across the country, arguing that consumers need stronger protections from conflicted advice and building off a national dialogue set off by the Department of Labor fiduciary rule.
Maria T. Vullo, New York’s superintendent of financial services, said in a letter to the National Association of Insurance Commissioners that a “best-interest” standard should apply to life insurance products.
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Originally Posted at InvestmentNews on January 26, 2018 by Greg Iacurci.
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