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
A man on a mission — With Foresters Financial’s Matt Berman
Matt Berman says he’s in a unique position as president and CEO of Foresters Financial, a 150-year-old fraternal organization wi.. Read More
From The Field
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.
Best practices for identifying compliance risks
Compliance incident management involves identifying, evaluating and mitigating incidents that might constitute breaches of laws, regulations or company policies.
Help parents of special-needs children plan for their financial future
Parents of a child with special needs are haunted by one question: “Who will take care of my child when I’m gone?”
LIFE INSURANCE NEWS
Pacific Life brings new indexed universal life product to market
Pacific Life Insurance Co. is out with a new flagship indexed universal life insurance product.
- 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
- NY lawsuit over premium financing tests oversight promised by Reg 187
ADVISOR NEWS
95% of parents saving for college expect to cover more than half of expenses
Among American parents saving for their children’s college education, 95% expect to cover more than half of the cost for their children.
- HSBC announces surprise retirement of chief executive
- With mixed economic signals, the Federal Reserve is likely to stand pat on rates
- What’s new with SECURE 2.0 and workplace retirement plans?
- Saving for college can impact your clients’ retirement
- KKR’s Henry McVey: Insurance CIOs to increase allocations to non-traditional assets
Annuity News
Annuity sales up 21% in the first quarter, LIMRA reports
Annuity sellers had another very strong quarter in Q1, with $113.5 billion in sales, 21% higher than the first quarter 2023. 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
Woman defrauded over $150 million from U.S. Postal Service
A San Gabriel Valley woman has admitted to defrauding the U.S. Postal Service of more than $150 million. From November 2019 .. Read More
AIG violated unfair practices, but cleared of acting in bad faith
A Florida jury has cleared AIG of acting in bad faith, but awarded an unspecified amount of compensatory damages in storm damage.. Read More
Santa Fe's 'mini-Madoff' to serve four years in federal prison on fraud charges
Apr. 23— ALBUQUERQUE— An unregistered Santa Fe investment adviser dubbed a "mini-Madoff" by his victims was sentenced .. Read More
Elderly Hoosiers reported $26 million in financial losses due to fraud and scams in 2023
Financial scams targeting senior citizens include illegal call center, romance scams. Read More
Retirement is a growing luxury in the U.S. | Editorial
Low savings, longer lives and a rickety safety net are combining to present new challenges, especially here in Florida. A survey.. Read More
MS Legislature beats deadline by minutes, set to vote on Medicaid expansion
A group of Mississippi lawmakers made a final compromise to expand Medicaid in Mississippi and keep the bill alive for votes in .. Read More
Property and Casualty News
Texas home insurance among most expensive
The Texas housing market is hot. With four of the state's metro areas featured on U.S. News& World Report's top 10, th.. Read More
Growing wildfire risk leaves Idaho trying to keep property insurers from fleeing
“I think most of the insurers, you know, I’ m very grateful that they’ re committed to the Hawaii market, so we haven’ t seen wh.. Read More
Investors are suing one of the 12 failed home insurers in Louisiana. See why.
Now, the people who poured more than $60 million into the company just before it went belly-up are suing the firm and its ex.. Read More
Health/Employee Benefits News
Strong year for workplace benefits sales in 2023, LIMRA reports
New annualized premium for workplace life insurance, disability insurance and supplemental health products posted solid gains fo.. Read More
14M choose Medicare Supplement, AHIP reports
The share of fee-for-service Medicare enrollees choosing a Medicare Supplement plan rose to 41.4% in 2022, increasing for the fi.. Read More
Walmart Health to close all clinics, including 7 in Northeast Florida
Walmart announced April 30 it will close its 51 health care centers in Florida, Arkansas, Georgia, Illinois, Missouri and Texas... Read More