Suitability in Annuity Transactions Training Requirements

Regulation 187 (Part 224 of Title 11 of the Official Compilation of the State of New York) requires insurers set forth standards and procedures for recommendations to consumers with respect to annuity contracts so that the insurance needs and financial objectives of the consumers are appropriately addressed. This part applies to any recommendation to purchase or replace an annuity contract made on or after June 30, 2011.These standards and procedures are substantially similar to the NAIC Suitability in Annuity Transactions Model Regulation.

Section 224.4 (g) & (h) holds the insurance company responsible for ensuring that every producer recommending its annuity products is adequately trained to make the recommendation, however, the regulation does not require the completion of specific training classes.

Approved Provider Organizations

The following Approved Provider Organizations have developed courses based on the minimum education standards recommended by the NAIC model regulation and have received DFS approval for continuing education credit.  A producer completing these courses will earn continuing education credits toward the renewal of the insurance license and may satisfy the annuity training requirements of the insurance companies and therefore NY Regulation 187.  It is the responsibility of the producer to know the annuity training requirements of the insurance company with whom he or she works.

For additional information regarding the approved continuing education courses, please contact the following Approved Provider Organizations:

A.D. Banker & Company, LLC
Laurie Coe
7311 W. 130th St. #160
Overland Park, KS 66213-2718
Phone: (913) 451-1280 x214
[email protected]

Broker Educational Sales and Training
Lori Hoelscher
7137 Congress Street
New Port Richey FL 34653-6457
Phone: (800) 345-5669
[email protected]

Bryant & Stratton College
Victoria Hernick
145 Wolf Road
Albany, NY 12205
518-437-1802 x221 or [email protected]

Cape School Inc.
Rene" Carwile
PO Box 169
Buckingham, VA 23921
[email protected]

ClienTell, Inc.
Jennifer Woods
2 Corporate Plaza, STE 100
New Port Beach, CA 92660
[email protected]

Insurance Career Training, Inc.
Todd Eschmann
5792 Coopers Hawk Drive
Carmel, IN 46033
Phone: (317)863-0044
[email protected]

Insurance Training Institute
Robert Secovnie, Director
20 Spruce Street
Valatie, NY 12184
[email protected]

Kaplan Financial
Justin Olson
332 Front Street South
Suite 555
LaCrosse, WI  54601
[email protected]

National Underwriter Company
Joyce Coots
5081 Olympic Boulevard
Erlanger, KY 41018
[email protected]

On-Site Insurance School
Theresa Mahoney, Director
147 E Merrick Road, Unit A
Valley Stream, NY 11580
[email protected]

POHS Educational Centers
Stanley Gruverman, President
Suite C-100
1400 Old Country Road
Westbury, New York 11590
[email protected]

Quest Continuing Education Solutions
Linda Krenke
STE 1000
10850 West Park Place
Milwaukee WI 53224
[email protected]

RegEd, Inc.
U. Nena Lekwauwa
2100 Gateway Centre Blvd.
Suite 200
Morrisville, NC  27560
[email protected]

Brandi Brown
800-334-8322 x5256
[email protected]

Securities Training Corporation
Jean Carter
100 Grove Street
Worcester, MA 01605
800-782-2678 ext. 204
[email protected]

United Insurance Educators, Inc.
Cassandra Jenkins
8213 352nd St. East
Eatonville, WA. 98328
[email protected]

Lesli Leakey
Suite 500, 12222 Merit Drive
Dallas, TX 75251
[email protected]

It is important to remember that the courses offered by the Department"s CE Providers are approved for continuing education credit and may or may not satisfy the suitability training requirement of the insurance company(s) with whom you work.  Please contact your insurance company(s) for direction.

Updated 11/18/2016