Annuity Suitability Regulation

Bulletin No. 06-004 April 24, 2006 ANNUITY SUITABILITY REGULATION The Department of Business and Industry, Division of Insurance (DOI) has received remarks that the Consumer Protection in Life Insurance and Annuity Transactions Regulation, LCB File No. R076-05, is confusing regarding the disclosure requirements set forth in Section 16 and third party contracts. Any insurer that is licensed to market life insurance and annuities in Nevada that currently has a disclosure statement that complies with the NAIC Annuity Model Regulation of 1999, is deemed to be in compliance with Section 16 of the Consumer Protection in Life Insurance and Annuity Transactions Regulation, LCB File No. R076-05. The Consumer Protection in Life Insurance and Annuity Transactions Regulation, LCB File No. R076-05, does not prohibit third party contracts with whom an insurer has an agreement. __________________________________________ ALICE A. MOLASKY-ARMAN Commissioner of Insurance