Understanding Best Interest: NY Reg 187 for Producers

Overview

Our Best Interest training provides just what financial professionals need to know to understand and comply with New York Reg 187. Producers will quickly learn how to comply with the regulation through learning modules, review questions, scenario-based learning, and knowledge checks to keep them engaged with the material.

Designed to save professionals' time, this dynamic course takes approximately 45 minutes to complete. And with our price-sharing and enterprise models, producers can get trained quickly at a cost savings, too.

The course incorporates input and review from two dozen subject matter experts in 18 companies. This industry scrutiny assures that the content is just what you and your team needs to confidently comply with Reg 187.

Duration

1-10 hours to complete

Special Features

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

Contact Us

E-mail us at talentsolutions@limraloma.com for more information on our producer training.