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Sholam Weiss appeals 845-year sentence for life insurance plot
Bernie Madoff is serving 150 years in prison for a multibillion-dollar fraud. Norman Schmidt got 330 years for his role in a huge investment scam. And then there's white-collar criminal Sholam Weiss, who isn't due for release until November 2754.
Obama health plan a threat to sellers of long-term medical insurance
The CLASS Act, which sets up a government-run insurance program, survived the tortuous health-care debate in Congress. But experts can't predict how — or if — the controversial program will work
Should annuities be mandatory for 401(k)s? Fund companies go on the offensive
Participants in 401(k) plans do not want the government to require them to convert a portion of their 401(k) assets to annuities, according to the results of a survey of about 3,000 households released today by the Investment Company Institute.
2010 push for income in DC plans expected
Federal regulations and legislation that would make it easier for defined-contribution plans to include lifetime-income products are expected to be introduced next year.
Labor chief wants to add annuities to 401(k) mix
Encouraging employers to offer annuities in pension plans will be one of the Labor Department's top regulatory goals in 2010.
Insurers dead set against life settlement securitization
The American Council of Life Insurers is asking policymakers to bar the securitization of life settlements.
HSAs a health care reform winner?
HSA deposits are expected to top $14 billion in assets this year, up from $1 billion in 2006
Advisers weigh benefits of new VA products
Now that the days of generous variable annuities are behind them, some advisers are finding ways to fit the revamped, slimmed-down versions into clients' portfolios.
Saybrus Partners’ Brian Laubacker joins The Hartford
Brian Laubacker has joined The Hartford Financial Services Group Inc. Mr. Laubacker will serve as a regional vice president of sales in the western U.S. for The Hartford's individual life insurance division.
Hartford set to launch new independent agent program
The Hartford Financial Services Group Inc. has begun recruiting independent insurance agents to sell fixed life insurance products while retaining their own autonomy.
Former Allianz Life chief blasts Hartford’s hiring of Liam McGee as new CEO
Bob MacDonald, the former chief executive of Allianz Life Insurance Co. of North America, has upbraided The Hartford Financial Services Group Inc. for selecting Liam McGee as its new chief executive, calling the decision “outsourcing taken to a new and more dangerous level.”
PFS reps stand to pick up stock awards from Primerica IPO
Five millions shares allotted to workers, including officers and sales force leaders
NAIFA names Waters permanent CEO
Industry group for insurance and financial advisers gives acting CEO the job on a permanent basis
Health-care cost now up to $20.50 an hour at home
While the national average cost of home health care increased last year, expenses vary from city to city.
Insurance regulators eye stranger-originated annuity sales
The National Association of Insurance Commissioners plans to look into legitimacy of third-party originated annuity transactions
Fixed-annuity sales down in 4Q and full-year 2009
Fixed-annuity sales slid in the fourth quarter and dropped off slightly for the full year of 2009.
Variable annuities sales leaders
Top 25 issuers by third-quarter 2009 sales, $ in millions Click column headers to…
Variable annuities asset leaders
Top 25 issuers by net assets, $ in billions, as of Sept. 30 Click…
Fixed annuity sales slid in ’09
Fixed annuity sales slid in the fourth quarter of 2009 — and dropped off slightly for the full year.
Insurance regulators to examine controversial death benefit scheme
The hearing will concentrate on the practice of baiting seniors and terminally ill people to act as insured lives on an annuity purchase, with the death benefit going toward a third-party investor or an intermediary.
