SB 263 (Dodd): Insurance: Annuity & Life Insurance Consumer Protections

CANHR supported the initial March 7, 2023, version of SB 263, which would have protected vulnerable seniors from potential financial abuses in the sale of annuity and insurance products. However, the April 17, 2023, amended version of SB 263 substantially weakened the bill by limiting its scope and gutting its standard of care. The latest version of the bill would harm consumers for the following reasons.