Groups Fill AML Training Need

LIMRA International and the National Association of Independent Life Brokerage Agencies are joining to organize a multicarrier anti-money-laundering training program.

New U.S. Treasury Department rules will require life insurers to offer AML training programs and suspicious activity reporting programs by May 2.

Each insurer must make sure that each producer meets AML training requirements, and that could create a problem for producers who represent many carriers, according to LIMRA, Windsor, Conn., and NAILBA, Fairfax, Va.