Model Reg Requirements in Connecticut Effective 03/01/22

Attention Connecticut producers

NAIC Model Regulation 275 requires sales process changes

EFFECTIVE DATE:  Mar. 1, 2022
TRAINING REQUIRED BY:  Sept. 1, 2022

For all new business written in Connecticut, a new annuity standard of care rule becomes effective on the dates listed above. This new “best interest” standard, which replaces the old suitability standard, includes several substantive changes to both producer obligations and supervising insurer obligations. These changes will impact the sales process – including new point-of-sale form requirements, producer disclosures, and documentation obligations.

We’ve developed a Compliance Blueprint to help you understand your new obligations and summarize the new business requirements. Included with the Compliance Blueprint is the Doing Business With North American Blueprint. This Doing Business Blueprint is intended to be a “cheat sheet” of sorts for you to refer back to as you are getting comfortable with your new compliance obligations. Get these valuable resources now.

Resources

Find training resources through RegEd.
To avoid delays in your business, complete training by the dates below and send us certification that you’ve taken training.
Connecticut: complete training before Sept. 1, 2022

Use secure document upload, the quickest, easiest way to get us your certification.

Required forms (also found on our microsite)
NEW in Connecticut – Best Interest Attestation Form
NEW in Connecticut – Producer Disclosure Form
Consumer Profile Form
Comparison and Disclosure Form
(No change to the current AR, FL, NV comparison forms)