Thursday, April 01, 2010
Battle words uttered ahead of NAIC hearing on stranger-owned annuities
A new battleground between insurance and regulators will be formally drawn May 20 in Washington, D.C., when the National Association of Insurance Commissioners (NAIC) holds a public hearing to explore the growing practice of stranger owned/originated annuities.
Based on the comments of the head of the committee looking into these transactions, there’s no doubt where the NAIC falls on the issue. “I envision hearing from the victims, the consumers who may have been duped, quite frankly,” Thomas R. Sullivan, Connecticut insurance commissioner and head of the NAIC’s Life Insurance and Annuities Committee, which will play host to the hearing...
IFA Web News: Battle words uttered ahead of NAIC hearing on stranger-owned annuities
Based on the comments of the head of the committee looking into these transactions, there’s no doubt where the NAIC falls on the issue. “I envision hearing from the victims, the consumers who may have been duped, quite frankly,” Thomas R. Sullivan, Connecticut insurance commissioner and head of the NAIC’s Life Insurance and Annuities Committee, which will play host to the hearing...
IFA Web News: Battle words uttered ahead of NAIC hearing on stranger-owned annuities
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