What’s Wrong With Suitability? Industry Groups Wonder

May 8, 2018 by John Hilton

Regulators set their sights on the suitability standard governing insurance sales almost from the time it was adopted in 2010.

Meanwhile, agents keep delivering life insurance and annuities as their industry representatives wonder: What’s wrong with suitability?

Dwight Carter of the Fixed Annuity Consumer Choice campaign denounced the rush to create a “theoretical ‘standard of care’ that propagates a false sense of security that laws can mandate good behavior and potentially ushers in a regulatory environment hostile to innovation while creating a platform for ruinous litigation.”

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Originally Posted at InsuranceNewsNet on May 8, 2018 by John Hilton.