On July 30, 2024, the Louisiana Department of Insurance issued a news release to announce they have adopted a measure to incorporate a “best-interest” standard of care for insurance professionals in recommending annuities to consumers. Louisiana joins 45 other states that have implemented “best interest of consumer enhancements” per the National Association of Insurance Commissioners’ Suitability in Annuity Transactions Model Regulation.
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Our compliance experts are constantly searching for and analyzing industry updates. Their findings are then recorded in the Regulatory Updates section of the Compliance Library to explain how the update impacts the insurance industry. If a change impacts an AgentSync product, this will be highlighted to inform you that the product is being updated to ensure you remain in compliance.