Moore Market Intelligence is a top authority on the 70/10 Rule. This desk drawer legislation relating to Standard Non-Forfeiture Laws (SNFL) has spread like wildfire since 2005. The rule ensures that adopting state insurance divisions will not approve annuity products exceeding a 10-year surrender charge and often a first-year surrender penalty of 10%. (This largely inhibits insurance companies’ offerings of products with stronger rates, bonuses, and compensation.) Since the inception of the Interstate Insurance Product Regulation Commission (IIPRC), a plethora states have adopted the anti-competitive 70/10 legislation in the name of â€śconsumer advocacy.â€ť The firmâ€™s research and grassroots efforts have resulted in states foregoing 70/10, as well as the bypassing of a controversial 5/5 mandate in the state of Florida.
Moore Market Intelligence also led the fight against Indexed Annuities being regulated as securities through their research and grassroots efforts in support of S 1389 (Senate bill) and HR 2733 (House bill), effectively known as the â€śIndexed Annuities and Insurance Products Classification Act of 2009.â€ť Specifically, many have credited the firmâ€™s state-specific economic impact studies as the ammunition necessary to gain additional co-sponsors on these invaluable Congressional bills.