The Federal No Surprises Act (NSA), which will take effect on Jan. 1, 2022 as part of the Consolidated Appropriations…
This report compiled by InsuranceNewsNet staff.
Staff Reports
California Man Faces 15 Counts Of Insurance Fraud For Payroll Issues
Alfredo Casas, 62, allegedly underreported payroll for his farm labor contracting business by over $1 million, resulting in a substantial loss to two insurance companies.
32% Of Americans Are ‘Highly Stressed’ Over Finances, LIMRA Finds
Women with children under 18 expressed the highest levels of financial stress at 50%, followed by non-retirees who were not working (44%), those under age 50 (42%), and those with household incomes under $50,000 (42%).
The Wisconsin Office of the Commissioner of Insurance this week announced administrative actions it has taken against individuals and businesses….
The Consumer Financial Protection Bureau (CFPB) published research this week on overdraft fees illustrating how reliant banks are on overdraft…
Wink, Inc., the competitive intelligence firm specialized in providing life insurance and annuity product data to the industry, announced Victoria…
Life Insurance Premium Up 18% In The Third Quarter, LIMRA Reports
Total life insurance new annualized premium grew 18% in the third quarter, representing the third consecutive quarter of double-digit growth, according to LIMRA.
3Q Annuity Sales Up Double Digits Over Last Year, Wink Reports
Third-quarter sales for all deferred annuities totaled $59.8 billion, a decrease of 7.1% compared to 2Q and an increase of 10.4% when compared to 3Q 2020, Wink reports.
Los Angeles residents Victor Valle-Diaz, 55, Eduardo Retana, 25, and Ausencio Gomez, 46, were sentenced to serve in state prison…
Total Annuity Sales Rose 12% In The Third Quarter, LIMRA Reports
Total U.S. annuity sales were $62.3 billion in the third quarter, up 12% from third quarter 2020. Year-to-date, annuity sales increased 19% to $191.4 billion, according to results from the Secure Retirement Institute.
Insurance Commissioner Ricardo Lara ordered insurance companies to preserve 209,881 residential property insurance policies held by wildfire survivors included in an October 22 emergency declaration.
The Wisconsin Office of the Commissioner of Insurance took several recent administrative actions. The actions are issued by OCI when…
Fixed And Variable Annuity Sales Rise 6% In New 2Q Data
Sales of fixed and variable annuities were $60 billion in the second quarter of 2021, up 6% from first quarter 2021 sales of $56.7 billion, according to the Insured Retirement Institute.
VAs Power Total Annuity Sales To Near-Record Growth, LIMRA Reports
Total preliminary U.S. annuity sales were $62.2 billion in the third quarter, up 12% from third quarter 2020.
A joint investigation conducted by the Michigan Department of Insurance and Financial Services (DIFS) and the Ogemaw County Sheriff’s Office has led to insurance fraud and identity theft charges against 14 individuals for allegedly submitting nearly $3 million in false insurance claims.
Life Insurance Sales Strong Across Product Lines In 2Q, Wink Reports
Non-variable universal life sales for the second quarter were $779.2 million, up 19.9% when compared to the first quarter, Wink reports.
Second Quarter Deferred Annuity Sales Up 10-40%, Wink Reports
Total second quarter sales for all deferred annuities were $64.4 billion, up more than 10% compared to the previous quarter and an increase of 40.4% when compared to the second quarter 2020.
A Methuen, Mass. woman, who was the former business manager at a Lawrence, Mass. retirement home and nursing center, has pleaded guilty and been sentenced to a serve a year and a half in state prison in connection with stealing more than $530,000 from the facility and the estate of a deceased resident at the home.
Allianz Strikes $4B Reinsurance Deal With Resolution Re
The persistent low interest rate environment over the past few years prompted the deal, Allianz said in a news release.
In addition to the creation of the special enrollment period, health coverage access was also expanded in Michigan through tax subsidies offered under the American Rescue Plan (ARP).
