Revised Suitability Requirements for Oregon Effective 01/01/2024
Oregon has adopted the NAIC revised Suitability in Annuity Transactions Model Regulation.
Changes effective January 1, 2024, include:
- Producers must act with a heightened standard of care in soliciting and selling annuities.
- This heightened standard of care is satisfied by meeting four obligations: care, disclosure, conflict of interest, and documentation.
As part of this heightened standard of care, producers must not place their financial interest ahead of the consumer’s interest. Please visit your Department of Insurance website to read the new regulations and understand your obligations.
Review this document for more information on Producer Requirements and New Training Requirements.