Hartford partner Stephen Jorden is speaking at the American Council of Life Insurers (ACLI) Compliance & Legal Sections Annual Meeting, in Fort Lauderdale, Florida, on Monday, July 15, 2019. The topic of this general session is “Mid-Year Check-In: Best-Interest Standard-of-Care Issues.”
Steve is joined by the director of the State of Ohio Department of Insurance, Jillian Froment; and the former VP & associate general counsel of the Pacific Life Insurance Company, Steve Toretto. They are providing an update of the regulatory tracks addressing changes in the legal Standard of Care, which will affect insurance transactions for producers, brokers and other financial professionals.
The discussion includes updates on the NAIC’s proposed modifications to the Suitability Model Regulation for Annuities, the SEC’s Regulation Best Interest and certain state legislative proposals. Steve and the panel cover the differences among the proposals and how this impacts legal and compliance efforts for insurance sales and policy administration.