Pennsylvania's insurance department today filed petitions to liquidate embattled long-term care insurer Penn Treaty Network America Insurance Co. and American Network Insurance Co.
Four senior citizens in Florida who were scammed into purchasing “inappropriate” equity indexed deferred annuities have had a combined $1.2 million returned to them by the state's chief financial officer, Alex Sink, according a statement from Florida's Department of Financial Services.
The insurance industry predicts a new boom in variable annuities as tax deferral takes the spotlight in the near future, but financial advisers and broker-dealers aren't convinced that this will help products fly off the shelves again.
The Insured Retirement Institute last week chose James A. Shepherdson, executive vice president of Axa Equitable, as the group's chairman.
National ratings agencies received criticism yesterday at a meeting of the insurance industry for their failure to properly rate residential mortgage-backed securities prior to the crisis.
Retirees and pre-retirees remain skeptical about the likelihood of recovering their portfolio losses, and they are keeping financial advisers at arms' length, according to an informal survey.
Progress on health care reform will finally come this year, though it will be made at the expense of other regulatory- and legislative-reform initiatives, two former political party bosses said yesterday at an insurance industry gathering.
A North Carolina insurance agent and former registered representative was arrested yesterday and faces embezzlement charges for allegedly duping a 90-year-old woman into signing away her annuities.
Client-centric marketing tactics and a more emotional approach are key to financial advisers' efforts to distinguish themselves from their competition, a tele-savvy adviser said today at the Insured Retirement Institute's annual conference in Boston.
