NAIC Committee Targets STOA Fraud

A working group is tasked with finalizing a model bulletin to help regulators tackle stranger-originated annuity transactions.

October 22, 2010

Pat Speer

The National Association of Insurance Commissioners' (NAIC) Life Insurance and Annuities Committee at its fall meeting formed a new working group to evaluate next steps on a model bulletin designed to help regulators deal with the practice of stranger-originated annuity transactions (STOA). The action follows a public hearing held by the NAIC in May to begin to gather information on what the organization describes as a relatively new phenomenon, identified in similar fashion to stranger-originated life insurance transactions, or STOLI.

Get access to this article and thousands more...

All Insurance Networking News articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, podcasts, e-books, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders and developing trends.

Already Registered?

Free Site Registration