News & Analysis as of

Comment Period Life Insurance

Stikeman Elliott LLP

Ontario Consultation on Regulating Life & Health Managing General Agents Launched

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On July 26, 2024, the Ontario Ministry of Finance launched a consultation on proposed amendments to the Insurance Act that would create a regulatory framework for life and health managing general agents (L&H MGAs) and those...more

Eversheds Sutherland (US) LLP

NAIC Indexed Universal Life Illustration Subgroup solicits comment on options to revise Actuarial Guideline 49-A and to open NAIC...

On October 12th, the NAIC Life Insurance and Annuity (A) Committee’s Indexed Universal Life (IUL) Illustration (A) Subgroup (IUL Subgroup) exposed for comment four options to amend Actuarial Guideline (AG) 49-A to address a...more

Carlton Fields

NAIC Proposes Actuarial Guidelines for Index-Linked Variable Annuities

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On July 25, 2022, the Index-Linked Variable Annuity (A) Subgroup of the NAIC’s Life Insurance and Annuities (A) Committee issued for public comment an exposure draft of proposed actuarial guidelines for index-linked variable...more

Eversheds Sutherland (US) LLP

NAIC’s LATF solicits feedback on options to address concerns related to AG 49-A

​​​​​​​On August 15th, the NAIC’s Life Actuarial (A) Task Force (LATF) re-exposed for comment four options to address a concern raised by state insurance regulators regarding the use of illustrations for indexed universal...more

Faegre Drinker Biddle & Reath LLP

NAIC Issues Recommendations to Support Racial Equity

The National Association of Insurance Commissioners’ (NAIC) Special (EX) Committee on Race and Insurance met during the virtual Spring National meeting on April 12 to discuss its recently proposed 2021 charges. The lengthy...more

Carlton Fields

ASB Airs Summer Rerun: Seeks Round 2 of ASOP 2 Comments

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When last we left the Actuarial Standards Board (ASB), the board was considering comments on the first exposure draft of proposed changes to Actuarial Standard of Practice No. 2 (ASOP 2), now titled “Nonguaranteed Elements...more

Carlton Fields

Is It Time to Come Out and Play? New Rules Proposed on What Constitutes Rebating

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While everyone was working from home, the NAIC's Innovation and Technology (EX) Task Force (Innovation TF) was busy creating proposed new game rules on rebating. ...more

Carlton Fields

SEC Proposes Summary Prospectus Option and Modernized Disclosure for Variable Insurance Products (UPDATED)

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On October 30, the SEC voted to propose modernized disclosures for variable annuities and variable life insurance policies. The proposal would permit...more

Dechert LLP

SEC Issues Proposed Rule Permitting Variable Annuity and Variable Life Insurance Contracts to Use Layered Disclosure

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The U.S. Securities and Exchange Commission announced on October 30, 2018 that it had voted to issue a proposed rule and form amendments1 that would allow insurers offering variable annuity and/or variable life insurance...more

Eversheds Sutherland (US) LLP

SEC proposes new variable contract disclosure regime

The US Securities and Exchange Commission (SEC or Commission) recently proposed a new disclosure framework for SEC-registered variable annuity contracts and variable life insurance policies (together, variable contracts) that...more

Hogan Lovells

NYDFS proposed regulation addresses financial disclosure requirements for directors and officers of private equity buyers of...

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On August 9, 2017, the New York Department of Financial Services (NYDFS) released for public comment proposed amendments to its regulations governing the approval process for the acquisition of control of insurance companies...more

Carlton Fields

NY DFS Proposes New Regulation for Life and Annuity Non-Guaranteed Elements

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On November 17, the New York Department of Financial Services (DFS) issued a press release announcing its proposal of new Insurance Regulation 210 - Life Insurance and Annuity Non-Guaranteed Elements. Non-guaranteed elements...more

Carlton Fields

SEC Exhibit Hyperlink Proposal Excludes Investment Companies

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The Securities and Exchange Commission (SEC) has proposed that filings on Securities Act registration form types beginning with “S-” and “F-”, or on the basic Securities Exchange Act reporting forms, provide hyperlinks to...more

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