INSURANCENEWSNET MAGAZINE
In this issue..
- IUL illustrations: That was then; this is now
- Standing on the shoulders of giants — With Bryan Simms
- A man on a mission — With Foresters Financial’s Matt Berman
- Saving for college can impact your clients’ retirement
- 5 growth opportunities for the life insurance industry
SPECIAL FEATURE
Trade group files first lawsuit against the DOL fiduciary rule
The Federation of Americans for Consumer Choice filed a lawsuit in a Texas federal court Thursday to stop the Department of Labo.. Read More
From The Field
Ensuring compliance for PDF provider directories
Current laws mandate that customer communications for health care companies be accessible for people with disabilities.
Safeguard staff to safeguard the organization from hackers
More insurers are taking proactive steps to combat would-be scammers and thieves.
The definition of insurance and why it matters for captives
The IRS declines to adhere to a coherent definition of insurance and leverages byzantine case law against taxpayers in an arbitrary and capricious manner.
LIFE INSURANCE NEWS
What will the DOL rule mean for advisors?
The main thing, an attorney said, is that almost everyone will become a fiduciary and must satisfy a prohibited transaction exemption.
- Pacific Life brings new indexed universal life product to market
- Term vs. Perm: Which is right for your clients?
- State genetic information bans not necessary, life insurance lobbyists say
- MassMutual partnership with Insurify enables advisors to help clients comparison shop for P/C
- $80M verdict for 3 workers fired for taking ‘off the record’ time off in California
ADVISOR NEWS
Jill On Money: What's your retirement number?
A recent oft-quoted survey from Northwestern Mutual Life Insurance tried to boil the results down to one number, and it is $1.46 million, up "a whopping 53% from the $951,000 target Americans reported in 2020.". Obviously, the survey result number is much higher than the median or mean amount of money held in a retirement account, according to the Federal Reserve.
- Miami mayor subpoenaed to testify in SEC’s case against developer who paid him
- Inflation is still the top financial challenge for many Americans
- Shark Tank brand goes viral for all the wrong reasons
- A red-hot job market that’s defied Fed rate hikes is cooling (finally)
- Peak 65 boomers face a retirement preparedness gap
Annuity News
Revol One Financial retools with new annuity products, big goals
The new regime at Revol One Financial say they have a strategy to compete against big-time life insurers: speed and customer ser.. Read More
Fiduciary
‘Major changes’ required of producers under DOL fiduciary rule: analyst
It will require "major changes" from insurers on down for independent producers to get into compliance with the Department of La.. Read More
Insurance & Financial Fraud
Delta Junction man sentenced in 'bud and breakfast' fraud scheme
A Delta Junction man was sentenced to serve two years in prison and to pay $580,000 in restitution for defrauding more than .. Read More
Fraud investigator for NYC Dept. of Homeless Services charged with COVID fraud
Brooklyn resident Olabanji Otufale, 41, abused his position by accessing names, dates of birth, Social Security numbers and phot.. Read More
Beavercreek insurance agent accused of defrauding clients out of $235,000
May 1— A Beavercreek insurance agent is facing dozens of charges after she reportedly convinced clients to invest at least $.. Read More
Americans’ retirement savings target rises, actual savings drop
Recent data from Northwestern Mutual reveals a 15% increase in the target for American adults’ anticipated retirement savings, d.. Read More
BlackRock clashes with New York over signing of Aramco CEO
Larry Fink, CEO of BlackRock, is preparing to face a complicated meeting on May 15 due to the fierce opposition of the New York .. Read More
States try to keep insurers from fleeing amid rising wildfire risk
BOISE, Idaho- Months after a catastrophic fire burned more than 2,200 homes in Hawaii, some property owners are getting more bad.. Read More
Property and Casualty News
Small insurers are growing in Louisiana. Will more go insolvent after the next big storm?
The dozen insurers that failed after two busy hurricane seasons left hundreds of thousands of Louisiana homeowners scrambling fo.. Read More
How to know if your car is tracking you, risking higher insurance
-A recent New York Times investigation revealed some automakers sell data on driving behavior, like speeding, hard breaking and .. Read More
DeSantis expands program helping Floridians shore up their homes against hurricanes
REDINGTON SHORES, Fla.-- Florida Gov. Ron DeSantis held a news conference in Redington Shores on Wednesday, where he signed a bi.. Read More
Health/Employee Benefits News
New rules expand access to health care for DACA recipients
Last week, President Joe Biden's administration finalized a rule, through the Centers for Medicare& Medicaid Services, whic.. Read More
Fred L. Goldenberg: Medicare 2025 starting to bloom
May 5— Over the last few weeks, I've been involved in several meetings, both in-person and online, regarding anticipated ch.. Read More
‘Not a casserole condition’: Leaders gather to reduce stigma around mental health
BOISE— Behavioral health has come a long way in Idaho since Rick Huber experienced his first mental health crisis in the early 1.. Read More