Hawaii’s highest court sided with American International Group in classifying greenhouse gases as pollution, thereby triggering an insurance exclusion.
The Federal Reserve made headlines in September by slashing its benchmark interest rate by a half-point. That direction of lowering interest rates makes it a good time to for clients to lock in rates on investments such as fixed annuities before rates go down even further.
Recent increases in market interest rates are leading some banks to consider surrendering their bank-owned life insurance to reinvest the proceeds (net of a tax charge) in a new BOLI policy with a higher yield.
Reinsurance issues remain a big concern for state insurance regulators.
Vice President Kamala Harris announced a proposal to help the sandwich generation by expanding Medicare coverage to help cover the costs of home health care for older Americans.
U.S. Sen. Bill Cassidy, M.D. (R-LA), introduced a bill to prohibit asset managers from favoring environmental, social, and governance factors when evaluating people’s retirement plans.