NAIC Executive Committee Adopts Contentious AG 49 Changes

August 19, 2020 by John Hilton

A National Association of Insurance Commissioners’ committee had the final word Friday on Actuarial Guideline 49, approving changes designed to tighten up indexed universal life illustrations.

The executive committee and the plenary approved the newly named AG 49A with a lone No vote by New York. There were no comments accepted, but Jillian Froment, director of the Ohio Department of Insurance and chair of the NAIC Life Insurance and Annuities Committee, addressed two objections registered by consumer advocate Birny Birnbaum.

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Originally Posted at InsuranceNewsNet on August 14, 2020 by John Hilton.