Rhode Island Attorney General Peter Neronha has filed objections to rate increases sought by Blue Cross Blue Shield of Rhode Island, Neighborhood Health Plan and other insurers that offer polices to state residents.
The tech platform NYDIG is extending inroads into insurance with MassMutual and insurance-focused hires.
The COVID-19 pandemic forced agencies and companies alike to reassess employee benefits. As employers continue to face a hiring shortage, attracting talent will almost certainly be contingent upon being able to offer employee benefits that cover a full spectrum of needs.
Two women allegedly conspired to enter the names of licensed medical practitioners into billing information for Medicare claims without the practitioners’ knowledge, the U.S. Attorney’s office said.
Authorities say Martin Ruiz misappropriated more than $8 million of client funds, transferring those funds through a series of entities Ruiz also controlled, and spent the vast majority of the funds on personal expenses.
The New York State Department of Financial Services reduced health insurers’ 2022 requested rates to a 3.7% hike, despite health care costs increasing to pre-pandemic levels.
Two years ago, the U.S. Centers for Medicare and Medicaid Services under the Trump administration approved Ohio’s request to make the changes, which hadn’t been implemented due to the ongoing pandemic.
LIBOR is the primary benchmark for short-term and variable interest rates used to determine interest rates on a variety of financial instruments. Those include not only investments held by insurers, but existing annuity contracts as well.
Principal acquired the Institutional Retirement and Trust business in July 2019 to enhance its retirement and income capabilities, achieve greater scale and balance, and drive business growth, the company said in a news release.
The liquidation is saddling the state with an estimated $60 million to $65 million in unpaid claims and premium refunds, according to Florida Insurance Guarantee Association Executive Director Thomas Streukens.
While insurance companies try limiting their losses, legislators try different proposals to support services outside overburdened and expensive institutional settings.
The government response to COVID-19, coupled with stronger economic conditions and unprecedented consumer interest in life insurance, have led LIMRA to improve its 2021 sales forecast.
Retirement plan participants are worried about running out of money, losing income or not being able to afford medical expenses, according to an American Century survey.
This decrease is largely attributable to a spike in activity that occurred in July 2020 as the industry rebounded from the impact of the COVID-19 pandemic.
California regulators have charged two people with 36 felony counts of insurance fraud and grand theft for collecting long-term health care benefits allegedly as a result of fraudulent claims.
—Even in a July jobs report that was nearly universally hailed as a good one, pockets of weakness and concern are still clouding the celebration.
The data shows Americans saved more of their money during the pandemic, largely because they could not spend it. But studies are showing that Americans might be changing their identity from consumers to savers.
Brookfield Asset Management Reinsurance Partners is acquiring American National Group in a $5.1 billion deal announced this morning.
The measure would provide what Biden has called a “historic investment” in public works programs, from roads and bridges to broadband internet access, drinking water and more.
New AIG CEO Peter Zaffino fleshes out details of the company’s spin-off of its life and retirement business, which it plans to sell in an initial public offering in the first quarter of 2022, with Blackstone being a minority owner.
The insurance producer license of Daniel Van Patten, the host of Safe Money Radio Show and president of Assure Financial Service, was revoked effective July 27, 2021 by the Idaho Department of Insurance.
Lincoln Financial has best boost in income because of its registered index-linked annuities, as the company expands its offerings and distribution.
After strong results in 2019, total new premium for individual life combination products decreased 23% to $3.7 billion in 2020, according to LIMRA’s 2020 U.S. Individual Life Combination Products Annual Review.
The impact of the virus can quickly spread from our physical health to our financial health. Insuring your clients’ future insurability and financial health through a convertible term life insurance policy is a smart approach to any other planning they are doing today.
Prudential nearly doubled its sales of its indexed variable annuity, FlexGuard, while dialing its traditional variable annuity sales down to zero in the second quarter.
The fact that we are still seeing a saving rate that is well above the pre-pandemic level goes against the view that people would rush out and spend as soon as they had the opportunity.
Carrots are more effective than sticks when it comes to retaining employees who are motivated to contribute their best.
In an interim report last year, the company disclosed that it was facing federal lawsuits brought by investors in the U.S. over losses in the Structured Alpha Funds during the stock market’s sharp downturn in the spring of 2020 as the pandemic battered the global economy and financial markets.
Life insurance is the bedrock of a plan to provide funds to charity while giving cash to clients’ beneficiaries.
The Ho-Chunk Nation, which operates casinos, hotels, restaurants and other businesses across Wisconsin, is suing its insurers over denials of its business interruption insurance claims brought on by the COVID-19 pandemic.
While in agreement that bigger is better in the retirement plan management world, Principal Financial executives say they feel no pressure to respond to the blockbuster Empower Retirement acquisition.
Biases are well-known for pushing investors to make short-term decisions that endanger a secure retirement. But biases can be called on to help get people into plans and keep them there.
A federal grand jury indicted two Boston-area men for what authorities say was a series of illegal online activities including romance scams, fraudulent unemployment claims and fake federal disaster loans.
Although meeting with prospects over dinner, at their office or at the golf course still happens occasionally, those face-to-face interactions have been significantly reduced. And agents – both veterans and newcomers, alike – have been forced to adapt quickly.
Researchers at the Secured Retirement Institute expected strong registered index-linked annuity numbers but were blown away by the double-digit increase across the board.
Strong equity market gains and lower volatility, as well as rising interest rates all contributed to the remarkable rebound in the annuity market, officials said.
Miriam Harris Lewis, chief inclusion officer at Principal Financial Group, discussed how diversity and inclusion improve customer relationships and drive business growth.
The new law requires insurance companies to monitor and correct biases against protected classes in their use of third-party data and analytics, but does not ban using data such as credit history in setting individual rates.
Aon and Willis Towers Watson are abandoning their $30 billion merger plan, terminating an agreement that could have made the combined company the world’s largest insurance broker.
Vatican prosecutors have alleged a jaw-dropping series of scandals in the biggest criminal trial in the Vatican’s modern history, which opens Tuesday in a modified courtroom in the Vatican Museums.
Businesses across the country have been struggling to fill their open positions. With many industries, such as dining and tourism, ramping up staffing as the pandemic recedes, it creates an ideal situation for job seekers.
By identifying your ideal client, thinking outside the box, and playing to your strengths, you’ll be working smarter, not harder, to build your business. The result: a client pool tailored to your preferences and strengths, allowing you to boost your portfolio long-term.
Jurors on Thursday returned a guilty verdict against Jim Beck at the end of the two weeks of trial proceedings. Prosecutors presented evidence at trial that Beck orchestrated a scheme to embezzle more than $2 million from the Georgia Underwriting Association.
The Senate Committee on Health, Education, Labor and Pensions held a hearing today on the PRO Act, which is opposed by the financial services industry.
The annuity focused Alliance for Lifetime Income has again signed on as the sole sponsor of The Rolling Stones’ 2021 “No Filter” U.S. stadium tour.
—Georgia's suspended insurance commissioner told jurors Wednesday that his trial “is my last chance” to persuade them and the wider world that federal investigators ignored the truth in a misguided rush to indict him.
Empower, a Great-West Life company, plans to consolidate the two companies’ retirement business on a platform the Empower built with the help of last year’s $1 billion acquisition of Personal Capital.
—Georgia’s suspended insurance commissioner testified at his federal fraud trial Tuesday, saying he oversaw valuable work and that hundreds of thousands of dollars that flowed to an entity he controlled was not part of a scam.
Although the state’s Supreme Court overturned Regulation 187, many major carriers have already pulled out of the state, which is appealing the court’s ruling.
A New York man was sentenced Monday to 46 months in federal prison for participating in business email compromise scams.
Judge Michael Hanzman indicated that property claims would trump claims of wrongful death and injury, saying the building was underinsured to compensate all victims at the present time.
A Capital Group blog post cites Society of Actuaries data to show that Americans are routinely underestimating their lifespan, and may be overestimating their resources.
The testimony came as federal prosecutors continue to build their case that Jim Beck embezzled from the Georgia Underwriting Association, an insurer Beck managed before he took office as the state’s top insurance regulator in 2019.
A long-running investigation into a San Diego-area auto insurance fraud ring involving staged collisions and thefts has resulted in charges against 32 defendants and uncovered $822,000 in losses, state officials said Friday.
Here are three misunderstandings that can often develop surrounding income annuities, as well as insights that can help employers leverage these benefits to promote long-term financial wellness in a post-pandemic world.
The Fed chair acknowledged that the U.S. is in the midst of an unparalleled economic reopening on the heels of a pandemic-induced recession, making it that much more difficult to anticipate how things like inflation and unemployment will play out.
Wednesday’s blockbuster AIG-Blackstone deal is likely to power up both companies in their respective worlds of insurance and private equity, according to a leading industry analyst.
Life insurance application activity ended the second quarter up 7.3% for the year, the MIB Life Index reported.
American International Group is selling a 9.9% equity stake in AIG’s Life & Retirement business to Blackstone for $2.2 billion in an all-cash transaction.