The Wisconsin Office of the Commissioner of Insurance recently released a list of administrative actions for May. The actions are…
News coverage of insurance industry and financial advisor regulation.
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Regulators ponder two options to toughen reinsurance reserving standards
State insurance regulators picked up discussions Thursday on proposals to better test the assets backing billion-dollar offshore reinsurance deals.
9 trade groups file a second lawsuit to stop the DOL fiduciary rule
Nine insurance trade associations filed a lawsuit Friday against the Department of Labor to overturn its controversial Retirement Security Rule.
The former owner of a Fresno- based trucking company is facing charges of under-reporting more than $2 million in payroll to avoid workers’ compensation costs, regulators said Wednesday. Heigo Kubar, 84, of Fresno faces three felony charges related to about a half million in workers’ compensation insurance fraud at the company he used to own, TKJ Trucking,…
SCOTUS declines to hear lawsuit over Country Mutual Insurance profits
The U.S. Supreme Court declined to intervene Monday in a lawsuit brought by Country Mutual Insurance Co. policyholders alleging the insurer is hoarding profits.
There's now nearly $11 trillion in these retirement plans— boosted by years of continuous investing in a bull market and by employer matching contributions. That's why the Department of Labor, which regulates retirement savings, has issued a new fiduciary rule— one not only covering advice given within the plan to participants but also taking direct aim at the…
—The Bank of England has kept its main U.K. interest rate at a 16- year high of 5.25% with several policymakers still worrying about some key inflation measures. Like the U.S. Federal Reserve last week, which also kept rates, on hold, the majority on the panel wanted to see more evidence that inflation is under control. The Bank of England, like the U.S. Fed and other…
The Wisconsin Office of the Commissioner of Insurance recently released a list of administrative actions for April. The actions are…
Trump-appointed judge will hear lawsuit against DOL fiduciary rule
A Trump-appointed judge will hear the first lawsuit to challenge the Department of Labor’s fiduciary rule, due to take effect in September.
IRS again defers minimum distribution penalty for IRA beneficiaries
For the fourth year, the the IRS has punted on the matter of required minimum distribution (RMD) penalties for IRA beneficiaries.
Fiduciary rule to take effect Sept. 23, setting stage for major changes, legal battle
Department of Labor officials ushered in what is sure to be a fierce, and lengthy, legal battle today with a preview of its long-awaited, and industry despised, Retirement Security Rule.
Report: DOL to release fiduciary rule Tuesday
The Department of Labor is set to release its long-awaited fiduciary rule on Tuesday afternoon, the American Retirement Association reported today.
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.
The Oregon Division of Financial Regulation fined State Farm $200,000 for failing to send notices over the past six years…
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.
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.
Regulators adopt first climate strategy in bid to boost insurance markets
State insurance regulators adopted their first climate strategy in the hopes of stabilizing chaotic insurance markets.
Regulators consider guideline to best-interest rule to address ‘deficiencies’
State insurance regulators plan to issue guidance on its best-interest annuity sales model after reviews turned up “deficiencies” in producer monitoring.
