7 states adopt AI rules; insurer compliance called ‘significant lift’
Seven states are on board with guidelines for use of artificial intelligence that insurers “are expected” to follow.
Regulators urged to be more active in preventing health insurance discrimination
Non-profit consumer organizations are urging state regulators to perform more due diligence in ensuring fair health insurance practices.
‘Magic number’ for a comfortable retirement surges to $1.46 million
The “magic number” for a comfortable retirement has reached an all-time high at $1.46M, rising more than 50% since the pandemic began.
Regulators tout climate mitigation as key to calming insurance markets
State insurance regulators are taking the first steps on what will be long and difficult effort to mitigate climate impacts.
Proposed Medicare Advantage regulations would impact broker, FMO compensation
Medicare Advantage plans currently have the flexibility to pay agents varying rates depending on the plan in which the beneficiary enrolls. But those compensation rates would change for 2025 under proposed CMS rules.
Calif. consumer group asks NAIC to lead on U.S. long-term care financing issue
A non-profit group is urging NAIC to bring states, regulators, industry and consumers together in discussing long-term care financing.
Industry fears impending DOL action will target pension transfer market
There is concern in the life insurance industry that a forthcoming Department of Labor report could target group annuity contracts by pension plans in pension risk transfer transactions.
Medicaid unwinding: How is it impacting the health care markets?
The Medicaid unwinding began one year ago this week, and the impact of millions of Americans being disenrolled from Medicaid coverage will continue to be felt into the next few years.
Fed unlikely to make rate cuts soon, says Powell
Federal Reserve Chairman Jerome Powell says more time and more evidence of an improving economy are needed before rates are cut.
DOL fiduciary rule proposal to restrict, ban some producer compensation
Department of Labor regulators are targeting producer compensation with their latest attempt to establish a blanket fiduciary standard.
NAIC regulators fire up dormant accelerated underwriting proposals
State insurance regulators got back to work Wednesday on accelerated underwriting, and set a goal to adopt guidance by August.
Economic challenges spur need for employer-sponsored lifetime income options
Inflation is raising fears among employer-sponsored retirement plan participants that they will run out of money when they retire.
A third of young investors looking to switch advisors, study finds
Almost one in every three millennial investors plans to switch advisors within the next year, according to new research.
Black Americans financially stressed, but optimistic, study finds
Although Black consumers frequently report facing financial stress, many report optimism that their financial health will improve.
$1.6 trillion in U.S. homes uninsured, mostly among Hispanic and African-American families
One in 13 American homes – equivalent to $1.6 trillion in uninsured home value – does not have home insurance coverage, a new report finds.
Supreme Court takes on life insurance as a corporate asset
The Supreme Court to weigh in on whether the proceeds of a life insurance policy taken out by a corporation on a shareholder is a corporate asset.
P&C insurers using consumer laws to sue service providers, says AEPI
The Automotive Education and Policy Institute cites trend of P&C insurance providers using consumer protection laws to sue service providers.
Change Healthcare, medical providers still reeling from cyberattack
Change Healthcare is still recovering from the massive cyberattack that jeopardized treatment and payments for millions of patients.
Francis Scott Key Bridge collapse likely to result in billions in losses, insurance claims
The tragic collapse of the Francis Scott Key Bridge Tuesday morning will eventually trigger insurance claims that will likely cost billions, AM Best said.
