{"id":4518,"date":"2026-05-28T16:19:29","date_gmt":"2026-05-28T20:19:29","guid":{"rendered":"https:\/\/www.cannex.com\/?p=4518"},"modified":"2026-05-28T16:19:31","modified_gmt":"2026-05-28T20:19:31","slug":"cannex-research-team-submits-follow-up-comments-to-naic-working-group","status":"publish","type":"post","link":"https:\/\/www.cannex.com\/index.php\/2026\/05\/28\/cannex-research-team-submits-follow-up-comments-to-naic-working-group\/","title":{"rendered":"CANNEX Research Team Submits Follow-Up Comments to NAIC Working Group"},"content":{"rendered":"<p><strong>Toronto, ON &#8211; May 28, 2026: <\/strong>CANNEX Research has submitted a response to the NAIC Life Insurance and Annuities Illustrations Working Group regarding the following question:<\/p>\n<p><strong><em>What should be the starting point of a short-term solution: <\/em><\/strong><strong><a href=\"https:\/\/content.naic.org\/sites\/default\/files\/model-law-245.pdf\" target=\"_blank\" rel=\"noopener\"><em>Model 245<\/em><\/a><\/strong><strong><em>\u00a0language or something else (such as AG 49-A, other guidance, or starting anew)?<\/em><\/strong><\/p>\n<ul>\n<li><em>If language similar to Model 245 or other existing guidance, what types of modifications do you believe are necessary to address current regulatory concerns regarding illustrated rates and transparency (i.e., which sections\/parts do you believe need to be added or modified)?<\/em><\/li>\n<li><em>If starting anew, then how can the scope be limited to ensure progress towards a\u00a0short-term solution before a longer-term solution is developed?<\/em><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.cannex.com\/wp-content\/uploads\/2026\/05\/Cannex-comment-naic-working-group-05142026.pdf\" target=\"_blank\" rel=\"noopener\">Read the full response here<\/a>; the executive summary is provided below.<\/p>\n<p>In response to the Working Group\u2019s follow-up question, CANNEX recommends Model 245 (Annuity Disclosure Model Regulation)[1] as the starting point for a short-term regulatory solution. The two short term approaches described in our March 2026 comment \u2014 enhanced renewal rate disclosures and a supplemental \u201cReduced Rate\u201d scenario \u2014 map to identifiable provisions within Model 245, and targeted modifications to those provisions can be implemented near-term without a comprehensive overhaul of the regulation.<\/p>\n<p>We recommend modifications to:<\/p>\n<ul>\n<li>Sections 6-G(4)(b) and 6-J(3): to require enhanced disclosure of renewal rate risk and the economic trade-offs<br \/>\nembedded in premium bonus products<\/li>\n<li>Section 6-F(9): to mandate a supplemental \u201cReduced Rate\u201d scenario<\/li>\n<\/ul>\n<p>We do not recommend AG 49-A as the starting point, nor do we recommend starting anew.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Toronto, ON &#8211; May 28, 2026: CANNEX Research has submitted a response to the NAIC<a href=\"https:\/\/www.cannex.com\/index.php\/2026\/05\/28\/cannex-research-team-submits-follow-up-comments-to-naic-working-group\/\" rel=\"nofollow\"><\/a><\/p>\n","protected":false},"author":8,"featured_media":4216,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16],"tags":[],"class_list":["post-4518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.cannex.com\/index.php\/wp-json\/wp\/v2\/posts\/4518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannex.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannex.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannex.com\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannex.com\/index.php\/wp-json\/wp\/v2\/comments?post=4518"}],"version-history":[{"count":4,"href":"https:\/\/www.cannex.com\/index.php\/wp-json\/wp\/v2\/posts\/4518\/revisions"}],"predecessor-version":[{"id":4524,"href":"https:\/\/www.cannex.com\/index.php\/wp-json\/wp\/v2\/posts\/4518\/revisions\/4524"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cannex.com\/index.php\/wp-json\/wp\/v2\/media\/4216"}],"wp:attachment":[{"href":"https:\/\/www.cannex.com\/index.php\/wp-json\/wp\/v2\/media?parent=4518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannex.com\/index.php\/wp-json\/wp\/v2\/categories?post=4518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannex.com\/index.php\/wp-json\/wp\/v2\/tags?post=4518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}