Patrick Reeder

  • ACLI - Vice President & Deputy General Counsel 
  • Idea of the Informed Consumer
    • 3) Have a larger discussion about the disclosure and buying process... 

-- Pat Reeder, ACLI

2020 0724 - NAIC - LIIWG - Life Insurance Illustrations Working Group - Conference Call  

  • 2022 0407 - 2022-1, NAIC Proceedings -  LIAC - Life Insurance (A) Committee
  • 3. Heard a Federal Update on the Implications of the DOL Fiduciary Rule - Brooke Stringer (NAIC)
    • Patrick C. Reeder (American Council of Life Insurers—ACLI) said a fiduciary standard is not a bad standard, and it is an appropriate legal standard for situations where there is an ongoing relationship providing financial advice.
      • He said the problem with the DOL proposal is that it is a fiduciary-only approach, which would eliminate commission-based sales; i.e., the way that lower and mid-range clients buy products.
      • He said the DOL should recognize the changes that have taken place since 2017.
      • He said both the SEC’s Regulation Best Interest standard and the NAIC best interest revisions to the Suitability in Annuity Transactions Model Regulation (#275) provide a strong standard of care that is vigorously enforced.
      • He said state insurance regulators have a strong story to tell, and the DOL needs to hear from the NAIC.
  • Allianz Life Insurance Company of North America has hired Patrick Reeder to be senior director of government relations.
  • Reeder previously was an associate general counsel at Genworth Financial Inc., Richmond, Va., according to Allianz Life, Golden Valley, Minn., a unit of Allianz S.E., Munich, Germany. While at Genworth, he helped handle Genworth’s relationship with the National Association of Insurance Commissioners, Kansas City, Mo.
  • Reeder has a bachelor’s degree in journalism from Pennsylvania State University and a law degree from Widener University.

thinkadvisor.com/2009/12/03/personnel-changes-allianz-life-new-york-life-other-415-125492/