Sholam Weiss helped destroy the National Heritage Life Insurance Co. in a $450 million fraud scheme carried out in the 1990s. He was convicted of racketeering, wire fraud, money laundering, and obstruction of justice and given an 835-year sentence, one of the longest for a white collar crime in U.S. history.
A bill to establish a best-interest standard was unanimously approved by the North Dakota House Industry, Business and Labor Committee following a morning public hearing. North Dakota is the latest state to pursue the best-interest model law put forth by the National Association of Insurance Commissioners.
SAN FRANCISCO–(BUSINESS WIRE)– Charles Schwab has introduced two new variable annuities that are among the lowest cost in the industry….
New York– A trio of Covid-19 related risks heads up the 10th Allianz Risk Barometer 2021, reflecting potential disruption and…
NEW YORK, January 19, 2021 – New York Life announced today that it has expanded its comprehensive suite of retirement…
McKinsey To Insurance: Get Younger, Get Digital And Get Flexible
A pair of McKinsey & Co. analysts briefed members of the National Association of Independent Life Brokerage Agencies last week and described a life insurance industry in desperate need of digital skills, younger talent and products that offer innovate solutions for a changing demographic.
The economic news has continued to soften in recent days. December saw layoffs go up and the number of jobs decline, and, this morning, the retail sales numbers dropped. Consumer confidence has gone down. Clearly, the economic headwinds from the pandemic are getting worse.
Two insurers are defendants in new lawsuits filed in California over whether proper notice was given in cases of lapse or termination of policies. The plaintiffs claim American National Insurance Company and Lincoln Benefit Life Company violated a 2013 California law that beefed up notification requirements.
The spike in cybercrime has driven demand for cyber insurance, and prospective buyers are requesting higher limits. Price and capacity remain notable barriers, however, and it is too early to say if demand will translate into sustained market growth.
CARMEL, Ind., Jan. 14, 2021 /PRNewswire/ — Washington National Insurance Company, a national provider of supplemental health and life insurance products for middle-income…
DES MOINES, Iowa–(BUSINESS WIRE)– The prolonged economic impacts of COVID-19 are wearing on small and medium-sized businesses as owners report…
Financial services trade associations raise substantial sums of political action committee funds, money that supports lobbying efforts on important issues. In light of last week’s mob attack on the Capitol and the tense political atmosphere, trade associations are reviewing donor policies.
“Clients buy life insurance for someone else, but they buy DI for themselves.” — Brokers give their disability insurance perspective and positioning during a NAILBA Engage virtual event.
What The Most Successful Advisors Know
One of the hardest transitions for insurance agents and financial advisors is that leap from good to great. Advisors stuck on the plateau of good might try working harder and smarter, but they still struggle to scale their practice.
Biden To Nominate Gary Gensler To Head SEC, Reports Say
Gary Gensler will be named chair of the U.S. Securities and Exchange Commission (SEC) by President-elect Joe Biden, Reuters reported Tuesday. The appointment is likely to prompt concern among Wall Street firms of tougher regulation.
WASHINGTON, D.C., January 11, 2021 – Certified Financial Planner Board of Standards, Inc. (CFP Board) reported strong increases in the…
COLUMBUS, Ga., Jan. 12, 2021 /PRNewswire/ — Aflac, a leading provider of supplemental insurance products in the U.S., today announced the national…
PORTLAND, Ore. — Jan. 12, 2021 — Today, The Standard announces its first of several new annuity products launching this…
The report found 82% of older women said they have a plan for retirement income, but only about 1 in 3 has a formal written retirement plan in place. Only 12% of women feel highly knowledgeable about long-term care and only 27% have a plan to fund it, despite the fact that 50% of women expect to require it.
