First Unum Life Insurance Company of America and Paul Revere Life Insurance Company will pay a $1.8 million penalty to New York State for violations of DFS’s Cybersecurity Regulation.
Life Insurance
Consumer Reps: Insurers Use ‘Bad Faith’ On Underwriting Definitions
Several consumer groups are accusing life insurers of obstructing an effort by state insurance regulators to establish guidelines for accelerated underwriting.
Indexed Life Sales Back On The Uptick In 4Q
Indexed life sales were back on the uptick in the fourth quarter 2020 while the death knell sounded for traditional universal life insurance. That was the word as Wink, Inc. released the fourth quarter 2020 life sales results.
Fitch Ratings-Chicago/New York-19 May 2021: Fitch Ratings has revised its rating outlook for the U.S. life insurance industry to stable…
AUSTIN, TX – May 19, 2021 – Lion Street, Inc. today announced that its Board of Directors approved a cash…
The state’ s Supreme Court Appellate Division recently struck down the rules known as Regulation 187 as being unconstitutionally vague. In a new Best’ s Commentary,“ Regulation 187 Overturned by Division of New York Supreme Court,” AM Best notes that the ruling also could lead to more life insurance sales, though N.Y. regulators could still appeal the decision.
Moody’s Investors Service moved its outlook for the U.S. life insurance sector to stable, one year after the COVID-19 pandemic…
Iowa Regulators Monitor Transamerica As Customer Complaints Mount
People who complained to the Insurance Division or the Iowa Attorney General said they couldn’t get through to Transamerica, an investment, retirement and life insurance company, to check on their investments, make transfers or seek payouts after the death of a loved one.
May 17— A judge has delayed until October the trial of two people accused of plotting a Bismarck man's death, granting a defense attorney request for more time to review new information submitted to them. Howard, of Bellwood, Ontario, and Entzel, of Bismarck, face murder conspiracy, arson conspiracy and other charges in connection with the death of Chad Entzel, 42,…
Insurers Begin Lifting COVID-19 Underwriting Guidelines
As many Americans return to post-pandemic normalcy, life insurers are as well, with many companies curtailing or eliminating underwriting restrictions that have been in place since March 2020.
Most people recognize the need for life insurance but many of them still don't have it. People offer a variety of rationales for remaining uninsured. But these reasons may just be myths.
Life Insurance Motivation Eases As The Pandemic Fades
“These behaviors make it clear that to achieve sustained growth, insurers cannot rely on global disasters to boost uptake of life insurance,” according to a Deloitte report.
USAble Life, an insurance company based in Florida and Little Rock, will pay $90,000 to settle a retaliation discrimination lawsuit brought by the U.S. Equal Employment Opportunity Commission, the federal agency announced today. According to EEOC's lawsuit, USAL first received notice around March 26, 2018 of the complaints of an employee in its Little Rock…
Wendy Judd, 47, was charged with felony grand theft following an investigation by the California Department of Insurance. In the Madera case, the Department of Insurance opened an investigation after receiving a referral from the insurance company where Judd worked. “The investigation showed that between March 2014 and January 2015 she collected $20,982 in…
Record-Breaking Life Insurance Application Activity Continues in April
Year-over-year activity in April 2021 was up over April 2020 by an impressive 10.7% continuing strong growth in 2021, MIB reported.
Brighthouse Life Insurance Sales Up 44% In First Quarter
Brighthouse continues to broaden distribution and grow life insurance sales, CEO Eric Steigerwalt said on a conference call with analysts this morning.
California Agent Allegedly Used Clients’ Premiums To Buy Sports Tickets
A former licensed insurance agent from Clovis was arraigned in Fresno Superior Court on Monday on charges of embezzlement in the misappropriation of consumers’ premium payments.
Prudential Continues Strong ‘Product Pivot Strategy’ In Healthy 1Q
Strong sales of its buffered annuity, FlexGuard, helped Prudential continue its first-quarter shift away from interest rate-sensitive products and underpinned its strong financial showing.
American Financial Sheds Annuities, Enjoys Big Boost In P&C
American Financial is trying to figure out what to do with the billions it will have in excess cash after the sale of the Great American Life Insurance Co. in the second quarter.
May 4— The state doesn't have enough evidence to prove Earl Howard shot a Bismarck man in 2019 and must dismiss the murder charge against him, the prosecuting attorney said in court documents filed Tuesday. Howard in January 2020 was charged with murder and murder conspiracy, arson and arson conspiracy, and evidence tampering in the death of Chad Entzel, 42, of…
InsureSimpli provides instant quotes from the nation’ s top life insurance companies ST. PETERSBURG, FLA., USA- April 30, 2021- After years in the insurance industry and motivated by misinformation abou t the business, Jesse Hunkins has created insuresimpli.com to provide unbiased information for people seeking advice about life insurance an d retirement…
How can wealth managers broach the life insurance conversation with their clients? A panel of NAIFA members gave some insights.
DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group reported today that optimism among small and medium-sized businesses is the highest it’s been…
Breaking: NY Court Overturns Regulation 187
This decision could be appealed to the New York Court of Appeals, which is the state’s highest court. Additionally, the state may request a stay on the Appellate Division’s decision pending an appeal to the state Appeals Court.
Principal Financial Counters 1Q Losses With Strong Investment Gains
Principal reported higher revenues across most of its business lines, lower expenses and higher assets under management (AUM).
(DENVER – APRIL 28, 2021) IMA Financial Group, a North American insurance brokerage firm specializing in risk management, insurance, wholesale…
Tech Won’t Go Away When Restrictions Do, NAIFA Members Told
As restrictions ease and face-to-face meetings begin to make a comeback, technology still can remain a vital part of the advisor’s practice.
New York Life Launches $1B Initiative To Address Racial Wealth Gap
The impact investment initiative aims o address the racial wealth gap by investing in underserved and undercapitalized communities over the next three years with a focus on supporting small businesses, affordable housing and community development.
Carriers Risk Red To Be In The Black, With A Little Bit Of Green
Carriers are betting on a boom following the pandemic bust, so they are expecting to move more of their cash into riskier assets as economic conditions stabilize, according to Goldman Sachs’ 10th annual survey of carriers.
Grey’ s flagship New York headquarters will lead the business and be responsible for brand advertising, strategy, and integrated marketing efforts across channels. “We learned a lot about the team at MassMutual simply by how they conducted this review, so it’ s easy to see why they are consistently ranked among the world’ s most admired companies,” said Cory Berger,…
WASHINGTON, April 21– The American Council for Capital Formation issued the following news release:. The American Council for Capital Formation proudly announces that Susan K. Neely, President and CEO of the American Council of Life Insurers, has joined its bipartisan board of advisors. “Susan Neely has an impressive reputation for bringing positive,…
Eligible people can apply to recover up to $9,000 of qualifying funeral or burial expenses incurred after Jan. 20, 2020. “At FEMA, our mission is to help people before, during and after disasters,” acting FEMA Administrator Bob Fenton said in a prepared statement. To file a claim, you need to call a toll-free hotline set up by FEMA.
CHESTERFIELD COUNTY, Va.– A devastating house fire left six people dead in Chesterfield County, Virginia. On Friday, shortly after midnight, a three-alarm fire gutted a house on Glass Road. Michelle Capell is suffering unimaginable pain, telling 8 News her world is shattered after losing six loved ones in the blink of an eye.
