As some insurers recently made stock and debt offerings in lieu of participating in the government’s Troubled Asset Relief Program, Moody’s Investors Service said that it will review the way these recapitalization options affect carriers’ ratings.
John Hancock Financial Services today released a variable annuity called the John Hancock AnnuityNote.
Two bills that would transform the way insurance agents are licensed and regulated are likely to face a difficult time in the Senate, according to insurance industry officials.
As retirement looms for baby boomers, financial advisers are finding additional uses for their clients' health savings accounts, including covering the cost of long term care insurance.
Variable annuity net sales rose nearly $1 billion from the fourth quarter of 2008 to the first quarter of 2009, according to a report released today by NAVA Inc., a Reston, Va.-based VA trade group.
Eric R. Dinallo is resigning as superintendent of the New York state Insurance Department, effective July 3, to become the Henry Kaufman visiting professor of finance at New York University’s Stern School of Business.
Fixed annuities continued to outsell their variable counterparts in the first quarter, according to data from LIMRA International Inc. of Windsor, Conn.
Private coverage for the average individual costs an extra $370 a year because of the cost-shifting, which happens when someone without medical insurance gets care at an emergency room or elsewhere and then doesn't pay.
Three life and health insurers have become financially “impaired” so far this year and more carriers are expected to follow, according to a report by A.M. Best.
Progressive Insurance is paying the state $120,000 and will reimburse customers after volunteering that its Web site had provided inaccurate rate comparisons.
The Nebraska Supreme Court has ruled against a group of investors who tried to muscle a state guaranty association into paying about $1 million for the group's failed viatical investments.
Congress is likely to begin a review of the financial oversight system next month, with an eye toward revamping regulation. Banking, of course, will take center stage, especially now that the federal government has a direct stake in many of the nation's largest banks.
Although carriers' acceptance into the TARP program has led to share price gains and cautious approval from ratings agencies, some financial advisers are still keeping the insurers' products and securities at arm's length.
Wealth managers and tax attorneys are advising wealthy clients who may need to minimize gift and estate tax payments to consider taking advantage of a popular tax-planning tool while they still can.
Keeping track of rogue brokers is a tricky business, particularly when they leave or are booted from the confines of the securities industry, but keep peddling financial products.
Rep. Paul E. Kanjorski, D-Pa., today reintroduced the Insurance Information Act of 2009, which would establish a federal Office of Insurance Information.
A state senator wants Florida's insurance commissioner to resign, calling him "duplicitous and untrustworty" in a letter to Gov. Charlie Crist.
Legislation that would allow insurance agents to be registered by a single national licensing organization was introduced today in the House of Representatives.
John Grady has joined New York Life Insurance Co. as a senior vice president in charge of mergers and acquisitions in the company’s corporate finance department.
Merrill Lynch Life Agency Inc. will pay the Illinois Division of Insurance $18 million to settle a state investigation into the firm’s role in an imploded trust that was supposed to cover consumers’ funeral expenses.
