Additional States Adopt New Best Interest Suitability Regulation

Delaware and Ohio have adopted the National Association of Insurance Commissioners (NAIC) revisions to the Suitability in Annuity Transactions Model Regulation (#275) as follows:

• Delaware: Effective August 1, 2021
• Ohio: Compliance required August 14, 2021*

The revisions impose new requirements on both producers and insurers. Click below to learn about actions you need to take in order to meet your Best Interest Obligations in these states. We will continue to update you as additional states adopt the new regulation and approve training courses.

* Ohio adopted the regulation with a February 14, 2021 effective date but the revised regulation provides for a six-month period from the effective date (August 14, 2021) to come into compliance.