Prosecutors allege that suspended Georgia Insurance Commissioner Jim Beck was running a $2 million scam to bilk money from the property insurer he led before being elected.
Customers want real-time access to their agents, immediate updates to claims filed online and the ability to access policy information at the push of a button.
Regulators are focused on two options for “run-off” or “legacy” books of business: insurance business transfer laws, or the more arcane “division” framework.
An estimated 3 million people nationwide have left their jobs earlier than expected since the pandemic began in March 2020, according to the U.S. Bureau of Labor Statistics.
For those who rely heavily on Social Security benefits to pay their bills, the recent uptick in prices in what seems just about everything are cause for concern.
Plaintiffs allege that Felix Chu, as a New York Life agent, lured them into investing life insurance proceeds, retirement funds, and other assets in the purchase of unregistered promissory notes.
Triple murder suspect Chad Daybell faces insurance fraud after receiving around $430,000 in life insurance benefits.
U.S. Treasury Secretary Janet Yellen says she will lead an effort by top U.S. regulators to assess the potential risk that climate change poses to America’s financial system, part of a wide-ranging initiative launched by the Biden administration.
The White House is quietly pursuing another approach to economic reform that doesn’t require congressional approval. It could lead to dramatic changes.
First-quarter non-variable universal life insurance sales were down double digits, according to Wink’s Sales & Market Report.
Through the third quarter of 2020, sales of chronic illness riders as a percent of total sales were 7.7% for UL products and 46.3% for IUL products.
Less than half (48%) of Americans say they are worried about a major recession, a number that has been steadily declining recently and is down from 65% this time last year, a new Allianz study finds.
—Federal Reserve officials began discussing at their meeting last month the mechanics of reducing their huge monthly bond purchases that are used to keep longer-term interest rates in check.
Why are so many professional athletes going broke? Stories of those who made it big, those who crashed and burned, and those who devoted their careers to providing the right kind of financial advice.
Rather than try to project the best annuity index strategy — because you really can’t — a better approach is to allocate among index crediting strategies based on the anticipated environment.
Black Americans were significantly more likely to be concerned about being able to save for an emergency fund, pay their monthly bills and their mortgage, and leaving their families in a difficult situation due to a premature death.
PayPal co-founder Peter Thiel, who in 1999 had the privilege of purchasing company stock for one-tenth of a penny per share. He bought 1.7 million shares for just $1,700, and he did so in a Roth IRA.
The economy expanded at a 6.4% annualized pace in the first quarter, and for all of 2021, U.S. growth is expected to increase by more than 7%, according to Grant Thornton chief economist Diane Swonk.
Unemployed Americans on Thursday will be able to start signing up for medical coverage under the Affordable Care Act, with significant federal subsidies.
Start the conversation by looking to understand what your clients’ goals and objectives are, along with their risk tolerance, and concerns about outliving their income.
Lincoln Financial Group is breaking down three common misconceptions about saving for retirement revealed in a recent survey of U.S. employees.
Fixed and fixed index annuities, with their guaranteed income benefit options, can put clients’ minds at ease because they provide an income stream that annuity owners cannot outlive.
Billionaire Warren Buffett says the one constant throughout the coronavirus pandemic has been that it has been difficult to predict how it would affect the economy, but clearly it has devastated many small businesses and individuals.
The potential divide on climate change was evident during today’s commissioner panel discussion at the Global Insurance Symposium.
Proper estate planning can help ensure clients’ wishes are carried out exactly as intended in the event of a death or a serious illness, as having a clearly stated plan in place can provide clear direction and potentially avoid any disputes that otherwise might occur. For same-sex couples, this may be even more crucial.
The insurance industry charged into the diversity debate following the death of of George Floyd on May 25, 2020, and the ensuing Black Lives Matter protests.
The pandemic shifted the focus to technology and big data usage. Insurers loosened restrictions on accelerated underwriting, electronic signatures and medical exams. Will it continue?
Embracing flexibility is the key to a more productive workforce in the post-pandemic world. That was the word from Stephanie Berger, Centered Insurance Solutions, who shared the lessons her benefits brokerage firm learned after more than a year of remote working. Berger spoke at Monday’s National Association of Health Underwriter virtual annual convention.
Principal Financial Group will stop selling U.S. retail fixed annuities and consumer life insurance products and pursue sales of blocks of those assets already in force, Bloomberg reported Monday afternoon. The company will continue selling variable annuities.
In happier times, Vagnozzi, a King of Prussia financial salesman well-known through his once-ubiquitous radio ads, raised more than $200 million from investors seeking alternatives to the stock market.
This is an opportunity for us to step up to the plate and help our clients understand this issue and to provide them with solid planning and innovative products to meet this growing need.
In order to achieve greater modernization in our industry and reap the associated benefits – including reduced risk and more efficient processes – there are three areas in which we should collectively focus our efforts.
The Alliance for Lifetime Income plans a Bucket List campaign to promote enjoying senior years while annuities help pay the monthly bills.
Black and Hispanic Americans were already at a disadvantage with retirement savings. Now the pandemic disrupted their employment more than it did for whites, according to a new survey.
A new University of Minnesota study finds that U.S. hospitals have been slow to fully comply with a new federal rule that was designed to bring more price transparency to health care.
Researchers are studying a COVID “syndrome” that results in deaths months after the patients get over the disease, explained Paolo Bandeira Pinho, vice president and medical director of innovation for Diameter Health.
More than half of Americans (55%) think their body’s biological age has aged faster in the last year than at any other time in their lives, and nearly half (46%) say they felt more aches and pains in the last year.
Salary is no longer enough to keep employees. During the pandemic, 30% of workers changed jobs for better benefits.
Bitcoin and other digital asset prices are crashing now, but Bitcoin is doing what Bitcoin does.
With competing financial priorities and new concerns around health and wellness, consumers desire more flexibility in their insurance products. Life insurance can provide it.
Democrats favor an infrastructure package five times as large as Republicans are proposing, to be paid for in part with at least $2.5 trillion in new taxes.
—Two months of sharply rising prices have raised concerns that record-high government financial aid and the Federal Reserve’s ultra-low interest rate policies— when the economy is already surging— have elevated the risk of accelerating inflation.
There are online tools available to help not only gauge “what’s hot” at a high level, but also what specific topics consumers are looking for online as they relate to financial services, insurance, and retirement products.
The Affordable Care Act has been upheld by the U.S. Supreme Court on three different occasions, and each time the court rules in favor of the law, one expert says, the law is strengthened and more stability is created around the ACA marketplace.
Registered index-linked annuities are the shining star of recent annuity sales reports and now they have earned the attention of state insurance regulators as well.
The U.S. Supreme Court upheld the Affordable Care Act in a 7-2 ruling handed down today, knocking down the law’s latest Republican challenge and preserving the ACA and the ability for millions of people with preexisting conditions.
Investors seem inclined to build wealth until 45, and then turn to retirement-saving mode, according to a Money Morning survey.
The Department of Labor allowed the investment advice rule, written by the Trump administration, to take effect. If anyone viewed that as a breakthrough in the long back and forth over the rules, they were mistaken.
As the 2021 Life Insurance Awareness Month celebrity spokesperson, the singer will reinforce the value of financial security through life insurance.
New research by LIMRA and McKinsey & Co. finds 8 in 10 insurance executives believe their companies’ efforts to adopt digital solutions accelerated due to the COVID-19 pandemic.
Insurance companies had the best year in a decade but investments slipped in quality, according to the National Association of Insurance Commissioners’ Capital Markets Special Report.
A Nebraska man is going to jail after an insurance scam involving a motorcycle accident, Iowa regulators say.
Women already faced a significant gap in their retirement savings before the pandemic put those golden year dreams further out of reach, according to findings from a Harris poll.
UnitedHealthcare has decided to delay the implementation of a new policy that would reduce coverage, or stop payment, for patients’ non-emergency visits to an emergency room.
The Labor Department is set to release on Thursday its latest measurement for inflation during the 12-month period ending in May. April’s reading showed prices climbing by concerning 4.2%.
The New York Department of Financial Services has appealed an April 29 decision by a state court tossing out Regulation 187.
According to the U.S. Pandemic Misery index developed by the USC Dornsife Center for Economic and Social Research, 80 percent of Americans experience a coronavirus-related hardship over the course of the pandemic.
Firms that comply with the Securities and Exchange Commission’s Regulation Best Interest standard have a head start on the Department of Labor’s investment advice requirement – but still have a way to go.
The Biden Administration is stopping short of shooting down hopes of a fourth stimulus check, but signaled that the president is focused on “putting people back to work” rather than short-term relief.
