Delve into the Compliance And Legal Sections Meeting in Southern Florida

Whether you’re new to the compliance business or are finishing up hours for your CLE (continuing legal education) credits, you can find a better place than Ft. Lauderdale. This summit will play host to a number of industry leaders addressing the priorities for both compliance and legal executives.

The American Council Of Life Insurers is hosting The Compliance & Legal Sections Annual Meeting between July 15th through the 17th at the Marriott Harbor Beach Resort in Ft. Lauderdale, USA. The conference is organized to provide compliance and legal executives access to the most recent thoughts and discoveries concerning the multitude of regulatory, compliance and legal issues. This conference will also earn attendees CLE credits. The panels will be made up of legal advisors, compliance officers, and professors, all willing to clear up any uncertainty in the industry space. The conference will be rounded out by offering an excellent portal for networking as well.

Opening Dialogue

The conference will be kicked off by Director Ray Farmer of South Carolina and Commissioner David Altmaier of Florida as they give their insight gained as chief insurance regulators in their state and as officers of the NAIC (National Association of Insurance Commissioners). The goal of the free-form discussion is to give an update to the changes in the legal structure impacting insurance transactions for financial professionals, insurance producers, and financial brokers.

The conversation will also cover the most recent NAIC’s proposed modifications to the

Suitability Model Regulation for Annuities, the SEC’s Regulation Best Interest, and the various proposed changes and additions to state legislation.

As more of the world is becoming digital and sensitive data is becoming easier to transfer and store, it is up to compliance officers to stay up to date with changing laws. The seminar will cover how to recognize potential pitfalls while still being able to provide competitive services, sales, and marketing within the letter of the law.

The talks will also cover:

  • A.I.
  • Chatbots
  • Emotional analytics
  • Future-proofing
  • New technologies

Insurance Business Transfer and Corporate Division Transactions and Legislation

The conference will proceed with the different insurance business transfer (IBT) and corporate division bills that have already been implemented by some states and how they’ve affected (and potentially affected) the industry. The conference will then delve into the Principles and Guidelines that ACLI has formulated in terms of:

  • Court approval
  • Regulatory review of policyholder interests and insurers’ financial condition
  • Balance sheet considerations
  • Independent expert reports
  • Public hearings and notice
  • Licensing in other states
  • Impact on guaranty associations

Practical Implications of New York Regulation 187

Panelists will then take up for discussion the New York Regulation 187 compliance solutions. They will go over its suitability concerning:

  • Data collection
  • Product disclosures
  • Best interest considerations
  • Producer training
  • Suitability reviews
  • Insurer processes or supervisory controls

The panel will explore insights addressing carrier challenges and how they plan to handle future compliance solutions as the New York Regulation 187 compliance solutions will soon become effective.

The Future of Consumer Privacy in the Tech Revolution

The Future of Consumer Privacy in the Tech Revolution session will cover the changing privacy laws that are constantly trying to keep pace with an ever-evolving technology race. Many policies are due for an update as they’ve been written over 20 years ago, leaving insurers and compliance officers grasping at air when handling sensitive information. It can be hard to sort out if a competent authority or a vaguely written law takes precedence over sensitive and personal information in the current climate. The panel will also address how these new laws mesh with advanced technology and how it impacts the changing insurer business models that now often cater to non-insurance business.

This is a three-day event and we’ve only covered a few of the agendas that will be presented. The Compliance & Legal Sections Annual Meeting is designed to get both new compliance and legal officers as well as those years in the industry up to date with the ever-changing environment of the industry. While the event is primed to get everyone educated, don’t forget to take advantage of the local scene.

Once you’ve mastered the ins and outs of the compliance world and you find that you need a workspace to put your new knowledge to work, you can look for an office space to rent, Fort Lauderdale is home to Cruiseport.

If you’re in need of an office to rent contact us today.