Understanding Best Interest: NY Reg 187 for Employees

Overview

This mobile-friendly, interactive online course explains the requirements of New York Reg 187 and describes how the rule could impact the work of home office employees working in new business/suitability review, customer service, agent service, operations, and other roles. Industry professionals will quickly learn how to understand and comply with the regulation through learning modules, review questions, and knowledge checks.

Objectives

Describe the purpose of NY Reg 187, who the regulation applies to, and when the regulation applies
Explain how the rule defines a “recommendation” and identify actions that are not considered recommendations under the rule
Distinguish between sales transactions and in-force transactions and explain the duties that producers and insurers must carry out for each type of transaction
Describe how a producer or home office employee demonstrates that he or she is acting in the best interest of a consumer
Describe the suitability information that may be collected, shared, and documented when a producer or home office employee makes a recommendation to a consumer
Describe the suitability factors to be considered when a recommendation involves a replacement
Explain the insurer’s obligations under the regulation related to suitability reviews, supervision, and prevention of financial exploitation and abuse

Format

Course Format

Understanding Best Interest: NY Reg 187 for Employees is delivered in an interactive online format and will take approximately 45 minutes to complete.

The courses incorporate input and review from two dozen subject matter experts in 18 companies and assure that the content is just what you need to confidently understand and comply with Reg 187.

Materials Format

Understanding Best Interest: NY Reg 187 for Employees delivers training through learning modules and incorporates review questions and knowledge checks within each module.

Enrollment

How to Enroll

Enterprise-Level

Understanding Best Interest: NY Reg 187 for Employees is ideally suited for large-scale implementation. If you are interested in the course for your company, please contact us for info about pricing and deployment.

Email us at education@loma.org

Individual Enrollment

Note: This course is also available for individual enrollment. Please contact your Education Representative to find out more.