Four severe weather events in July and August made 2024 the costliest year ever in terms of insured damage.
The ALDA was designed to counter the risk of outliving one's savings.
Comments due by February 10, 2025.
The guidance requires robust controls on chargeback commissions.
New guidelines reflect updates of regulators' views on the responsibilities of plan sponsors.
Insurers warned not to rely on a one-size-fits-all regulatory definition.
Regulator says industry has more work to do to protect consumers.
