AIRC 421 — Regulation of Life Insurance Products, Sales & Operations

Overview

Compliance and regulatory issues impact numerous aspects of an insurer’s business. Regulation of Life Insurance Products, Sales & Operations (AIRC 421) helps employees understand the regulatory environment in which their company operates and appreciate the complex issues surrounding state and federal regulation of the U.S. life insurance industry, life insurance companies, and life products. It also addresses the regulation of specific life company operations, such as underwriting, claims, reinsurance, market analysis, and product design.

Topics

• Regulation of Product Development
• Regulation of individual Life and Insurance Products
• Regulation of Group Life Insurance Products
• Regulation of Credit Life Insurance Products
• Regulation of Annuities, IRAs, and Retirement Plans
• Insurance Producer Licensing
• Regulation of Producers and Sales Activities
• Regulation of Advertising and Disclosure Requirements
• Regulation of Privacy, Cybersecurity, and Fraud
• Regulation of Life Insurance Claims, Underwriting, and Complaint Handling
• Regulation of Reinsurance
• Market Analysis and Market Conduct Examinations

• Describe the stages of product development and identify stages when an insurer must evaluate whether materials comply with state insurance laws and regulations
• Identify the provisions insurers are required to include in individual life insurance policies, the optional provisions that insurers may include, and the prohibited provisions that insurers may not include
• Identify types of state and federal laws that apply to group life insurance policies and explain the requirements that the Employee Retirement Income Security Act (ERISA) imposes on group life insurance policies
• Distinguish among the various types of fixed annuities and variable annuities, and explain the state and federal requirements imposed on each type
• Distinguish among the various types of individual retirement arrangements and describe the requirements that they must meet to qualify for favorable federal income tax treatment
• Distinguish among the various types of group retirement plans and describe the requirements that qualified retirement plans must meet
• Explain the requirements that state unfair trade practices acts place on insurers and insurance producers and give examples of activities that are considered to be unfair trade practices
• Describe the state regulatory requirements that life insurance and annuity advertisements must meet
• Describe the regulatory requirements that insurers must meet concerning the privacy of consumer information
• Describe measures that the NAIC, SEC, and FINRA have taken to address cybersecurity
• Describe measures that state insurance departments and insurers have taken to increase their capacity to detect and prevent insurance fraud
• Identify the types of market conduct actions that state insurance departments may take and explain the purpose of a target examination

Course Format

LOMA's popular online interactive courses teach important industry concepts through an engaging, highly interactive, multi-media approach that often includes integrated video, audio and scenario-based learning. Online interactive courses are designation courses with integrated exams—the modularized examinations are built right into the course as part of the learning experience. No separate exam enrollment is required.

• Technical Requirements for LOMA Online Courses

Exam Format

Integrated Exams

Online interactive courses are self-proctored designation courses—the modularized examinations are built right into the course as part of the learning experience. No separate exam enrollment required!

How to Enroll

Inscription à un cours de désignation en ligne

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