PRLog - Sep. 19, 2011 - MILWAUKEE -- Quest CE, premier provider of insurance continuing education and FINRA firm element training and tracking, is proud to announce their New York 4-Hour Annuities Training Course has been approved and satisfies Regulation 187 for the state of New York. The rule became effective on June 30, 2011 and applies to any recommendation to purchase or replace an annuity contract made on or after this date. Producers can immediately begin taking the course to satisfy the annuity requirement and will earn continuing education credits toward the renewal of their insurance license.
NY Regulation 187 requires insurers to establish standards and procedures for recommendations to consumers, in regards to annuity contracts. The regulation ensures the insurance needs and financial objectives of the consumers are appropriately addressed and are significantly comparable to the NAIC Suitability in Annuity Transaction Model Regulation recommendation.
The insurance company is responsible for ensuring that every producer recommending its annuity products is adequately trained to make the recommendation. Additionally, it is the responsibility of the producer to know the annuity training requirements of the insurance company with whom he or she works. However, the regulation does not require the completion of specific training classes.
New York licensees must complete 15 credits of continuing education during each two year licensing period. Quest CE offers a full suite of courses for producers to complete all their continuing education requirements. In addition, Quest CE is proud to offer state specific annuity training courses for Colorado, District of Columbia, Hawaii, Indiana, Iowa, Kentucky, Maryland, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, West Virginia and Wisconsin, whom have also adopted the NAIC recommendation.
To view Quest CE’s NAIC Annuity Training Platform Click Here (or visit http://learn.questce.com/
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About Quest CE
Since 1986, Quest CE has built a reputation of being the premier provider of Compliance Education to the financial services industry. In addition to offering Providership Administration and insurance continuing education (CE) for professionals holding insurance licenses and professional designations like the CFP, CPA, CLE, CIMA and CLU/ChFC designations, Quest also provides a complete spectrum of compliance training solutions including the Financial Industry Regulatory Authority (FINRA) annually required Firm Element Training for registered representatives, On-demand Annual Compliance Meetings, Annual Compliance Questionnaires, Needs Analysis Surveys, Outside Business Activity Tracking, Gifts and Entertainment Tracking and Political Contributions Tracking.