A group of 29 plaintiffs claim that Penn Mutual Life Insurance Co. and several co-defendants ran a tax-avoidance scam around whole life insurance policies.
Despite rumblings of widespread dissatisfaction, UnitedHealth Group shareholders voted to support a $60 million stock package for returning CEO Stephen Hemsley Monday morning.
Regulators are set to adopt an asset adequacy testing guideline to add another layer of transparency to major reinsurance deals.
Total first quarter sales for all annuities were $98.2 billion, down 1.9% compared to the previous quarter and down 5.7% compared to the same period last year.
Insurance companies continue to add newly launched indices to their fixed indexed annuity products, leading to a growing need to educate on the difference between live and back-tested index performance to help properly set policyholder expectations.
A Washington law firm is interviewing health advisors who were unfairly targeted by the Centers for Medicare and Medicaid Services in preparation for a potential class action lawsuit against the federal agency for its use of algorithms to punish agents who enrolled consumers in Affordable Care Act coverage.