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Attorney General Eric T. Schneiderman announced the arraignment today of Lawrence D. Rosenbaum, 65, and his wife, Thomasine Henderson, 65, both of Albany, New York, on a ten-count indictment charging them with stealing over $12,000 in life insurance payments and attempting to wrongfully obtain nearly $50,000 in life insurance payments by submitting false…

Dec. 10– Enrollment in Affordable Care Act plans is outpacing last year’s sign-up rate by about 5 percent through mid-December– demonstrating strong demand for the program and making it “highly unlikely” that Congress and President-elect Donald Trump would cancel coverage for millions of consumers in 2017, the chief executive of the federal government’s…

Commercial insurers across the United States continued their yearlong trend of moving rates ever so slightly. The composite rate moderated…

Dec. 09– TUPELO– After settling differences with Hancock Fabrics over the takeover of its pension plan, the Pension Benefit Guaranty Corporation is assuming responsibility for paying those pension benefits of nearly 4,200 people covered by the Hancock pension plan. The agency noted that Hancock Fabrics paid benefits at the end of the month, while PBGC pays at…

Dec. 09– Geico, part of Warren Buffett’s Berkshire Hathaway, plans to raise its car insurance rates for 192,698 Illinois policyholders next year by an average of 3.5 percent, according to state records. Over the past year, average premiums per auto policy have increased 6.9 percent, Berkshire Hathaway said in its most recent quarterly report filed with the…

Michael Winston Hefner, 47, faces 15 counts of embezzlement on allegations that he took a combined $61,149.90 from Oklahoma Farm Bureau between 2013 and 2015, according to court documents. Representatives from Oklahoma Farm Bureau couldn’t be reached for comment late Thursday, but court records from several indebtedness lawsuits filed against Hefner in…

Minneapolis- based Ameriprise settled with the government, agreeing to pay $128,200 in back wages and interest while not admitting liability and disagreeing with the Labor Department’s findings. Ameriprise Bank, which has since been reorganized, had federal deposit insurance at the time of the Labor Department’s review. “It is unlawful for federal…

By a News Reporter-Staff News Editor at Investment Weekly News– NEPC LLC, one of the industry’s largest independent, full-service investment consulting firms, announced the results of the 2016 Defined Benefit Plan Trends Survey, a gauge of corporate plan sponsors’ strategic vision for their pension funds. The most impactful year over year change observed…

Humana Inc. today announced that a change in interpretation of the Affordable Care Act associated with a recent court decision involving parties unrelated to the company now requires the company, under applicable accounting rules, to write-off essentially all of the $591 million in receivables associated with the risk corridor premium stabilization…

Dec. 08– After years of jettisoning customers, Florida’s last-resort insurer expects to get bigger in 2017– returning to more than half a million policies. “We’ve entered a different stage,” Citizens Property Insurance Corp. president Barry Gilway told the company’s board in a meeting Wednesday. But as Florida’s 11- year hurricane-free streak came to an end in…

The National Insurance Crime Bureau issued the following news release:. The National Insurance Crime Bureau says new technology is being used to not only unlock and open vehicles, but to also start and steal them. We partnered with NICB member company CarMax, because they are the nation’s largest used car retailer and have nearly every make and model in their…

The Financial Planning Association issued the following news release:. A new study conducted by the Financial Planning Association (R) (FPA (R), the leading membership association for Certified Financial Planner (CFP (R) professionals, and Investopedia, the web’s premier source of trusted financial content, reveals that today’s investors require both…

–More than seven in 10 Americans nearing retirement say they are’ terrified’ of what health care costs may do to their retirement plans, according to the sixth annual Nationwide Retirement Institute ® survey conducted by Harris Poll. The online survey of 1,316 adults over 50 finds that 64 percent plan to use Social Security and 61 percent use or plan to use…

The Louisiana Department of Insurance issued the following news release:. Insurance Commissioner Jim Donelon is announcing the tenth successful round of depopulation for the Louisiana Citizens Property Insurance Corporation. “I’d like to congratulate Chief Executive Officer Richard Newberry, Chief Operating Officer Vijay Ramachandran and the rest of…

With some Republicans talking publicly and privately about a phase-out period of two years or more, and others– including Missouri’s Sen. “This is a huge undertaking, and it is going to be extremely difficult, politically, on a number of levels,” said James Capretta, an expert in health care policy at the American Enterprise Institute, and formerly budget and health…

The justices on Tuesday rejected claims by State Farm that the whistleblower case against the insurer should have been dismissed because its existence was leaked while it was supposed to be secret. Sisters Cori and Kerry Rigsby filed the fraud lawsuit on behalf of the government after they said they witnessed State Farm shifting Mississippi claims to…