Regulatory Outlook | 11.11.20
Rhode Island Adopts NAIC’s Annuity Best Interest Rule
Rhode Island has joined Iowa and Arizona in adopting the National Association of Insurance Commissioners’ best interest rule for annuity sales. Rhode Island Department of Business Regulation Director Elizabeth Tanner on Nov. 4 signed the regulation requiring insurers and producers to put the consumer’s financial interest ahead of their own. It takes effect April 1, 2021.
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