The National Association of Insurance Commissioners executive committee and plenary plan to consider Annuity Disclosure Model Regulation amendments and a stranger-originated annuity (STOA) transactions bulletin at the NAIC’s summer meeting.
The executive committee of the NAIC, Kansas City, Mo., typically approves a measure before it comes up for a vote by the plenary, the body that represents all voting members of the NAIC.
The executive committee expects to convene by itself at the summer meeting, in Philadelphia, Aug. 30, to hear oral reports from the heads of NAIC affiliates.
The executive committee plans to hold a joint meeting with the plenary Sept. 1.
The annuity disclosure amendments coming up for consideration would set new standards for annuity illustrations.