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Staff Reports

This report compiled by InsuranceNewsNet staff.

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February 3, 2022

Elton John Welcomes Annuity Group On Yellow Brick Road Farewell Tour

Famed recording star Elton John announced the Alliance for Lifetime Income as the presenting partner of his “2022 Farewell Yellow Brick Road Tour in North America.”

February 2, 2022
Georgia wants to set up its own health insurance marketplace.

Industry Trade Group Sues The DOL Over Encroaching Fiduciary Standard

The DOL’s Investment Advice Rule, which takes full effect this week, broadens the agency interpretation of who is considered a fiduciary, which the lawsuit contends is contrary to an earlier decision of the Fifth Circuit Court of Appeals.

January 27, 2022

2021 Annuity Sales Highest In 13 Years, LIMRA Reports

Total 2021 annuity sales were $254.8 billion, the highest annual annuity sales since 2008, according to preliminary results from the Secure Retirement Institute U.S. Individual Annuity Sales Survey.

California Insurance Commissioner Race Attracts A Crowd

January 25, 2022

San Diego area insurance agency owner Teri Barnes announced Monday that she is running for California insurance commissioner. Insurance Commissioner…

January 14, 2022

71% Of BGAs, IMOs Report Success Adding Young Producers

The study provides a revealing snapshot on where producers are two years into the COVID-19 pandemic, how the evolution with BGAs and IMOs is proceeding, and how recruitment of producers is going.

Wisconsin Insurance Office Releases December Administrative Actions

January 10, 2022

The Wisconsin Office of the Commissioner of Insurance recently released a list of administrative actions for December. The actions are…

Fitch: No Surprises Act Likely Affects Health Insurers More Than Consumers

December 17, 2021

The Federal No Surprises Act (NSA), which will take effect on Jan. 1, 2022 as part of the Consolidated Appropriations…

December 15, 2021
Image shows a dollar sign in a spotlight

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.

December 15, 2021

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%).

Wisconsin Publishes Recent Enforcement Actions

December 8, 2021

The Wisconsin Office of the Commissioner of Insurance this week announced administrative actions it has taken against individuals and businesses….

CFA Calls For Strong Regulatory Action In Wake Of Report On Overdraft Charges

December 3, 2021

The Consumer Financial Protection Bureau (CFPB) published research this week on overdraft fees illustrating how reliant banks are on overdraft…

Victoria Grossman Named President Of Wink

December 3, 2021

Wink, Inc., the competitive intelligence firm specialized in providing life insurance and annuity product data to the industry, announced Victoria…

December 1, 2021
Life insurance sales remained strong in 2022.

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.

December 1, 2021

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.

LA-Based Fraudsters Sentenced To Prison For Staging Auto Collisions

November 29, 2021

Los Angeles residents Victor Valle-Diaz, 55, Eduardo Retana, 25, and Ausencio Gomez, 46, were sentenced to serve in state prison…

November 18, 2021

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.

California Order Protects Wildfire Survivors From Insurance Non-Renewals

November 12, 2021

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.

Wisconsin Insurance Regulators Release Recent Enforcement Actions

November 8, 2021

The Wisconsin Office of the Commissioner of Insurance took several recent administrative actions. The actions are issued by OCI when…

November 5, 2021

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.

October 27, 2021

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.

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