According to the New York Times, if you own a car made by General Motors or some other companies, Big Brother could be watching how fast you drive and how hard you brake. "Automakers Are Sharing Consumers' Driving Behavior With Insurance Companies," published Monday, March 11, begins with the story of Ken Dahl of Seattle, who has never been responsible for an accident.
News coverage of insurance industry and financial advisor regulation.
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Regulators resolve to check up on products for illustration integrity
Instead of further rulemaking to tamp down unrealistic illustrations, regulators are going directly to the products.
Insurance regulators vow to have a single LTC rate review plan by the fall
State regulators promise to develop a single rate review process for long-term care rate requests by the end of the year.
Regulators proceed with asset testing proposal for reinsurance deals
State insurance regulators are seeking comments on a proposal to further regulate insurers involved in often multi-billion-dollar reinsurance deals with offshore companies.
Calls to end LNG investment draw silence
A letter demanding insurance companies and others end underwriting new LNG terminals mostly was met with silence from the industry.
A couple of weeks ago, I was honored to receive an invitation to attend the Liberty Fire Department's ceremony announcing its new fire rating. ISO stands for Insurance Services Office. The Insurance Services Office provides a lot of rating, statistical and actuarial information to the insurance industry.
Maryland commissioner on NAIC climate effort: It’s time to take action
State insurance regulators are moving ahead with a “National Climate Resilience Strategy” but industry lobbyists are not sure what it means.
Roth catch-up contribution provision poses challenges for many plans
In response to plan administrator concerns following SECURE 2.0 Act passage, the IRS has delayed the Roth catch-up contribution requirement,
Labor Department sends new fiduciary rule to OMB
The Department of Labor sent its new and controversial fiduciary rule to the Office of Management and Budget late Friday afternoon.
NAIC regulators pushed by Feds into climate data collection, advocates say
The Treasury Department settled a long-running dispute with state insurance regulators over climate data collection, announcing Friday that they will partner to compile the data from insurers.
Insurance Commissioner Ricardo Lara announced several appointments “to help advance the California Department of Insurance’s vision of insurance protection for…
Mark Gordon signed 18 bills into law. Among the bills signed Monday was one that will make changes to a process health insurance companies use to approve or deny medications for patients and one that will allow for vehicle registrations to be carried electronically. House Bill 14 regulates prior authorization— a process health insurance companies use to…
Mar. 6— Washington state Insurance Commissioner Mike Kreidler announced Wednesday that he sent letters to insurers in the Spokane area urging them to make it easier for victims to file claims resulting from the Gray and Oregon Road fires that devastated rural areas last summer. In a previous letter to President Joe Biden, Gov. Jay Inslee wrote that it will cost…
A New York appellate division judge ruled Wednesday that multimillion-dollar penalties imposed on former President Trump in his civil fraud case will not be paused while he appeals the judgment; however, for now, Trump can apply for loans. Justice Anil Singh temporarily denied the former president's request to stay the enforcement of the more than $454…
Gov. Gavin Newsom pressured to veto best interest standard in California
California could become the 45th state to adopt best-interest annuity sales rules if Gov. Gavin Newsom signs the bill.
Federal prosecutors in Manhattan charged the Rolls Royce-driving pastor in December 2022 of persuading one of his parishioners at Leaders of Tomorrow International Ministry in Canarsie, Brooklyn to invest around $90,000 of her retirement savings and then blew it on luxury items for himself. Prosecutors say Whitehead further attempted to trade access to…
As federal prosecutors and a defense attorney argued in an Orlando courtroom last week about how much time a convicted Joel Greenberg associate should spend in prison, new details emerged of a shady real estate scheme by the former tax collector and his friends that federal investigators say bilked Seminole County out of $262,000. “This was a straw purchase,…
Former JEA CEO Aaron Zahn and Chief Financial Officer Ryan Wannemacher are on trial in U.S. District Court on accusations of conspiracy and wire fraud. The gallery on Feb. 21 included reporters from several Jacksonville news organizations, a reflection of the extensive media attention the case has received since the men went under investigation and were…
ST. LOUIS– U.S. Marshals took a former St. Louis area reality TV cast member into custody on Tuesday after she failed to surrender herself to federal prison to begin her sentence. Brittish "Cierrah" Williams, 34, pleaded guilty in May 2023 to five counts of misuse of a Social Security number, four counts of bank fraud, three counts of making false statements to the IRS,…
New York State Attorney General Letitia James said she would ask a judge to seize former President Donald Trump’ s assets if he cannot pay the damages from his $354 million civil fraud case. “If he does not have funds to pay off the judgment, then we will seek judgement enforcement mechanisms in court, and we will ask the judge to seize his assets,” Ms. James said in an…
