Steven A. Morelli

Steven A. Morelli is a contributing editor for InsuranceNewsNet. He has more than 25 years of experience as a reporter and editor for newspapers and magazines. He was also vice president of communications for an insurance agents’ association. Steve can be reached at [email protected].

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China Retaliation Ratchets Tension On Trade + Everything Else

This morning saw China retaliate with tariffs on at least $75 billion worth of U.S. goods, including oil, soybeans and cars, to go into effect Sept. 1 and Dec. 15 in lockstep with U.S. tariffs. President Donald Trump responded to China’s announcement by ordering U.S. companies to stop trading with China.

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Are We Looking Into The Abyss Of Recession?

Is this it? Is this the last step to recession? It seems we have been asking this question for a few years now. But there might be reasons to think that this time is the real one. The question now might be will it be a blip or something far bigger?

Who Will Still Feed Them When They’re 64?

In an era when pensions are as old-fashioned as plaid bell bottoms, four in 10 boomers have less than $100,000 saved for retirement; one quarter has less than $25,000, according to LIMRA. With 10,000 boomers hitting 65 every day, it is a mystery who will feed them once they are past 64.

DOL, SEC Appear To Be Harmonizing Fiduciary Standard

The Department of Labor is likely to harmonize its Conflict of Interest Rule language with the Securities and Exchange Commission’s best interest standard, according to a prominent industry lobbyist. The DOL fiduciary rule was tossed out by a federal appeals court earlier this year.

When The Fed Really Did Go Crazy

Paul Volcker became Fed chairman in 1979, promptly running into an economy burning down because of runaway inflation and then threw gas on it. He eventually raised the prime rate to 1981, extinguishing inflation, but also President Jimmy Carter’s chances of a second term.

This is Your Brain on Finance

Finance is the scariest topic people face, studies show. The way many financial professionals approach consumers compounds the fear. The findings are part of an emerging field of behavioral finance or financial psychology.

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NAFA Files For Emergency Injunction Against DOL Rule

The National Association for Fixed Annuities is asking an appellate court for an emergency injunction to suspend the Department of Labor’s fiduciary rule after a lower court refused NAFA’s request for a preliminary injunction.

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‘Annuity Burglar’ Case Tossed by Judge

A California judge threw out 29 felony charges and one misdemeanor against a former insurance agent who spent more than four months in jail awaiting trial in a case that some said could lead to criminalizing surrender charges…

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LIMRA CEO Sounds Storm Warning for Industry

Carriers are exiting markets in droves and in many cases leaving the country altogether. Companies are dropping entire lines of business, particularly in variable annuities and long-term care. The largest of the companies are looking to Latin America, Europe and Asia for business…