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Florida Suitability Rule Proposal Withstands Industry Challenge by Ann Young Black
Jorden Burt LLP - Miami Office
Steven Kass
Jorden Burt LLP - Miami Office
Karen A. Benson
Jorden Burt LLP - Miami Office
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October 16, 2009
Previously published on October 15, 2009
On October 9, 2009, the Florida Division of Administrative Hearings ("DOAH") dismissed the American Council of Life Insurance's ("ACLI") petition to invalidate the Florida Department of Financial Services' ("DFS") Proposed Rule 69B-162.011 (the "Proposed Rule"). The Proposed Rule implements Florida Statutes Section 627.4554, by adopting suitability and replacement comparison forms to be used with annuity sales to consumers age 65 or older.
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