A new partnership deal between Carson Group and Financial Independence Group will give Carson’s advisors access to a full range of insurance products.
This report compiled by InsuranceNewsNet staff.
Staff Reports
Nebraska Man Headed To Prison After Failed Insurance Scam
A Nebraska man is going to jail after an insurance scam involving a motorcycle accident, Iowa regulators say.
The Securities and Exchange Commission today charged a New York-based couple with insider trading in the stock of the pharmaceutical company where one of them worked as a clinical trial project manager.
The New Jersey Assembly committee moved a bill last week that would allow insurance companies to offer coverage add-ons that…
SRI Study: Owning An Annuity Increases Retirement Confidence
The latest SRI data suggests that retirees who own an annuity are more confident than non-owners that their savings and investments will not run out if they live to age 90 (69% versus 44%).
Life Insurance Sales Up A Whopping 11% In 1Q, LIMRA Reports
Overall, 7 in 10 life insurance carriers — including nine of the top 10 — reported increases in new annualized premium in the first three months of 2021.
First Unum Life Insurance Company of America and Paul Revere Life Insurance Company will pay a $1.8 million penalty to New York State for violations of DFS’s Cybersecurity Regulation.
A settlement has been reached between the Connecticut Insurance Department, Michael Scheinman, a state licensed insurance producer, and Accu-Health Insurance Advisors, LLC, to settle an investigation into selling a medical discount plan as an insurance product.
Rising Interest Rates Spur 9% Annuity Sales Growth In 1Q: LIMRA
In the first quarter 2021, total annuity sales were $60.9 billion, a 9% increase from first quarter 2020, according to preliminary results from the Secure Retirement Institute.
A 55% decrease in the average number of miles driven and a record 15% unemployment rate sent many auto insurance customers shopping for a new policy after the onset of the pandemic in 2020.
F&G, part of the FNF family of companies and a leading provider of annuities and life insurance, announced that the company has surpassed $1 billion in sales in the financial institutions channel, less than one year after launching.
Annuity Sales Bounce Back Strong, Wink Reports
Total fourth quarter sales for all deferred annuities were $56.3 billion, an increase of nearly 4% when compared to the previous quarter and an increase of nearly 6% when compared to the same period last year.
The Florida Legislature passed a bill that will cause insurance rates to rise for Florida motorists, particularly those who buy the minimum required insurance, according to the Personal Insurance Federation of Florida (PIFF).
Thirty-one percent of U.S. workers say they are fearful of workplace repercussions, such as getting fired, laid off, skipped over for a promotion/raise or reduced hours, if they take leave, and 29% believe there is a negative perception associated with taking leave.
The model “provides a structure to strengthen distracted driving laws across the country by establishing a comprehensive hands-free law to curb driver distraction,” NCOIL said in a news release.
Hollywood Actor Ran $690 Ponzi Scheme On The Side, SEC Says
The SEC alleges that actor Zachary Horwitz misappropriated investor funds for his personal use, including the purchase of his multi-million dollar home, trips to Las Vegas, and to pay a celebrity interior designer. Horwitz’s credits as an actor include low-budget features such as “Trespassers.”
Ohio National To Demutualize In Response To ‘Challenging’ Conditions
Ohio National executives today announced an expansive reorganization plan to demutualize the company. The deal includes the conversion of Ohio National Mutual Holdings to a stock company and the issuance of all of its newly issued stock to Constellation Insurance Holdings.
In the fourth quarter, total life insurance new premium dropped 8%, compared with the record-breaking sales results in fourth quarter 2019. Total policy sales were up 2% in the fourth quarter, according to LIMRA’s U.S. Individual Retail Life Insurance Sales Survey.
The Oregon Division of Financial Regulation issued $220,000 in civil penalties, and Raymond James Financial Services, Inc. agreed to pay $123,279 in restitution to the victims of the excessive trading practices of Gary Dodds.
The insurance industry overcharged California drivers by hundreds of millions of dollars in past year amid less driving and accidents, Insurance Commissioner Ricardo Lara said. Lara ordered a refund plan by April 30.
