NAIC Recommends No Further Model Laws For Modified Annuities

July 10, 2018 by John Hilton

A National Association of Insurance Commissioners’ subgroup concluded that additional regulation of modified guaranteed annuities is not needed.

The Model Law Review Subgroup will hold a conference call next week and disbanding the group is one item on the agenda.

The group formed with two 2018 charges: to look at whether state laws adequately regulated MGAs offered through general accounts products, and whether state laws adequately covered annuity non-forfeiture.

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Originally Posted at InsuranceNewsNet on July 6, 2018 by John Hilton.