Iowa Insurance Commissioner Bulletin: June 24, 2011

(2011) Iowa Insurance Commissioner Bulletin: June 24, 2011. Insurance Division (Commerce)

bulletin 11-4 re insurance licensed persons June 2011.pdf

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Since Iowa adopted a rule (191 Iowa Administrative Code rules 15.68-15.73) substantially similar to the April 2010 Suitability in Annuity Transactions Model Regulation of the National Association of Insurance Commissioners (“NAIC”), questions have arisen as to where the line is drawn between providing insurance advice and securities advice. The answers to these questions have become increasingly important because suitability laws at the state and federal level have evolved to the point where any recommendation to a consumer of either an insurance product or a securities product requires an extensive financial analysis of the consumer’s financial affairs and a discussion of broad financial trends. How information received from the consumer is applied will be different depending on whether it is an insurance transaction or a securities transaction because of the differing requirements of insurance and securities laws.

Item Type: Departmental Report
Keywords: Insurance, Worker Compensation
Subjects: Business and industry > Insurance
Business and industry > Insurance > Health insurance and health care coverage > Workers compensation
ID Code: 23468
Deposited By: Margaret Barr
Deposited On: 21 Feb 2017 14:01
Last Modified: 21 Feb 2017 14:01