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National College Credit Recommendation Service

Board of Regents  |  University of the State of New York

LOMA | Evaluated Learning Experience

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Regulatory Compliance: Companies, Producers, and Operations (AIRC 410)


Varies-independent study.

Independent study and proficiency examination program administered from the central offices of LOMA.

Version 1: May 1998 - June 2004. Version 2: July 2004 - December 2013.  

Instructional delivery format: 
Proficiency exam
Learner Outcomes: 

Version 1 and 2: Upon successful completion of the course, students will be able to: distinguish between the rules of the state government and the federal government in regulating the life and health insurance industry; describe how the NAIC and the NCOIL affect state regulation of insurance; identify types of activities state insurance departments engage in to conduct their regulatory review of insurers; identify an insurer's compliance responsibilities regarding agent licensing and agent conduct; identify stages in the product development process when an insurer must evaluate whether materials comply with state insurance laws and regulations; identify the types of market conduct examinations conducted by state insurance departments; identify activities that are prohibited by federal anti-trust laws; and recognize the duties of an insurer that markets products subject to federal regulation as securities.


Version 1: Major topics include: evolution of insurance regulation; organization of the compliance function; compliance and ethics; state regulation of the insurance industry; market conduct regulation; regulation of insurer solvency; insurance holding company systems; federal regulation of insurance and securities; federal taxation of insurance products. Version 2: This course describes the structure of state and federal insurance regulation within the framework of financial services organizations and focuses on how specific roles and functions within a financial services company are affected by the changing nature of these compliance issues. Major topics include: introduction to compliance; state regulation of the insurance industry; state regulation of insurance company formation and operation; state regulation of insurance producers; state filing and approval requirements; state regulation of insurance operations; market conduct examinations; regulation of insurer solvency; insurance holding company systems; federal regulation of insurance; federal regulation of securities; federal taxation of insurance products.

Credit recommendation: 

Version 1 and 2: In the upper division baccalaureate degree category, 2 semester hours in Insurance (12/99) (12/04 revalidation) (3/10 revalidation).