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July 14, 2021

Prosecutors: Georgia Insurance Commissioner Ran $2M Scam

Prosecutors allege that suspended Georgia Insurance Commissioner Jim Beck was running a $2 million scam to bilk money from the property insurer he led before being elected.

Clearcover First Auto Insurer To Do Endorsement Deal With NCAA Athlete

July 14, 2021

Clearcover is the first auto insurance company to ink endorsement deals with NCAA student-athletes following a recent Supreme Court decision.

July 14, 2021

Technology: Taking Client Engagement To The Next Level

Customers want real-time access to their agents, immediate updates to claims filed online and the ability to access policy information at the push of a button.

3 Ways To Give Your Clients’ Peace Of Mind During Market Uncertainties

July 14, 2021

Now is the perfect time to check in with your clients and remind them what financial planning really is and begin to tie their investment reviews into their financial plan.

Connecticut Insurance Department Approves Captive For United Rentals

July 13, 2021

The Connecticut Insurance Department has licensed United Rentals’ captive insurance company, Harbor Point Insurance, to insure itself against certain risks, including property damage from natural disasters.

Why Term Insurance Is The Answer … Sometimes

July 13, 2021

Life doesn’t always work out according to plan, which is why term insurance may not be the best choice for the long term.

July 13, 2021

State Regulators Working To Assist Insurers With Run-Off Blocks

Regulators are focused on two options for “run-off” or “legacy” books of business: insurance business transfer laws, or the more arcane “division” framework.

Life, P/C Insurers Plan To Accelerate Automation Over The Next 5 Years

July 13, 2021

ARLINGTON, VA, July 13, 2021 — Global life and property and casualty insurers want to improve the efficiency and auditability…

July 13, 2021

For Some Americans, Pandemic Prompted Early Retirement

An estimated 3 million people nationwide have left their jobs earlier than expected since the pandemic began in March 2020, according to the U.S. Bureau of Labor Statistics.

Liberty Mutual Adds $2.3B In Premium By Acquiring State Auto

July 13, 2021

Liberty Mutual will add $2.3 billion in premium and State Auto’s network of approximately 3,400 independent agencies across 33 states and is expected to become the second largest carrier in this key distribution channel.

July 13, 2021

Rising Prices Likely To Lead To Higher Social Security COLA

For those who rely heavily on Social Security benefits to pay their bills, the recent uptick in prices in what seems just about everything are cause for concern.

July 12, 2021

Former New York Life Agent Ran Ponzi Scheme, California Suit Alleges

Plaintiffs allege that Felix Chu, as a New York Life agent, lured them into investing life insurance proceeds, retirement funds, and other assets in the purchase of unregistered promissory notes.

Bill Would Change How Social Security COLA Is Calculated

July 12, 2021

U.S. Rep. John Garamendi, R-Calif., recently introduced the Fair COLA for Seniors Act of 2021 to require Social Security to use the Consumer Price Index for the Elderly to calculate a “fairer cost of living adjustment” (COLA) for seniors.

July 8, 2021

Universal Life Sales Hit ‘All-Time Low’ In 1st Quarter, Wink Reports

First-quarter non-variable universal life insurance sales were down double digits, according to Wink’s Sales & Market Report.

NY Insurer Fined $500,000 For Alleged Unlawful Use Of Data To Set Rates

July 8, 2021

Tri-State Consumer Insurance Company (Tri-State) will pay a $500,000 penalty to New York State for multiple violations.

July 8, 2021

Americans Putting COVID-19 Financial Panic In The Past, Allianz Finds

Less than half (48%) of Americans say they are worried about a major recession, a number that has been steadily declining recently and is down from 65% this time last year, a new Allianz study finds.

July 7, 2021

Hall of Fame, Fall of Shame: Marshall Faulk Loves Planning With Insurance

Why are so many professional athletes going broke? Stories of those who made it big, those who crashed and burned, and those who devoted their careers to providing the right kind of financial advice.

July 7, 2021

Green-Thumb Index Strategies For All Seasons

Rather than try to project the best annuity index strategy — because you really can’t — a better approach is to allocate among index crediting strategies based on the anticipated environment.

July 6, 2021

Black American Life Insurance Ownership Up During Pandemic: Study

Black Americans were significantly more likely to be concerned about being able to save for an emergency fund, pay their monthly bills and their mortgage, and leaving their families in a difficult situation due to a premature death.

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