The House Financial Services Committee this morning unanimously approved legislation that would create a federal insurance office within the Treasury Department. The legislation is part of a broad financial services regulatory reform package that is scheduled to be voted on next week by the full House of Representatives.
Even as long-term care costs skyrocket, many Americans have unrealistic plans for how they expect to pay for those services, according to a new survey from the LIFE Foundation.
California Insurance Commissioner Steve Poizner today kicked off an investigation into whether insurers based there have investments in Iran or its agents.
Fidelity Investments on Tuesday announced that it is cutting its management fees on its Section 529 plans. The reduced rates will apply to Fidelity's seven state-sponsored 529 plans.
Already under pressure from credit rating agencies, U.S. life insurers are about to be rocked again — by defaults on their investments in commercial real estate and mortgages, according to a report from Fitch Ratings Ltd.
Financial advisers and other consumers with any debt at all need to become more Scrooge-like this holiday season and avoid buying presents altogether, cautions a credit counseling organization.
Earlier today, Robert Benmosche, CEO of AIG, sent a memo to employees at the insurance company addressing speculation about his potential departure. The text of his memo is below:
A significant update to the popular financial planning program MoneyGuidePro was rolled out last week.
State insurance regulators yesterday voted in favor of using a new method to evaluate residential mortgage-backed securities that would allow them to reduce the capital requirements related to these investments.
Recent and upcoming unit sales at Boston Private Financial Holdings Inc. will give the bank holding company enough cash to repay government bailout funds without a capital raise, an analyst said Wednesday.
Swiss Reinsurance Co. Ltd. today issued a $150 million natural-catastrophe bond using the capital markets to protect itself from natural disasters.
Annuities coupled with long-term-care benefits could make a splash next year if the IRS and insurers can hammer out a tax kink that threatens to dull the appeal of the new hybrid.
Wal-Mart Stores Inc. has introduced custom target date funds to its more than 1 million 401(k) participants, following an unusual selection process.
There are few places in the tax law where one can “undo” an earlier taxable act.
MBIA Insurance Corp. will reinsure a $184 billion portfolio of bonds previously backed by the troubled Financial Guaranty Insurance Co.
John Brown told Bloomberg that the insurer would either divide its guarantee business into two entities or raise capital.
Financial Guaranty Insurance Co. wants to split itself into two companies.
Tensions at home were mounting after Jeremy Field lost a second construction job as the recession hit. He spent his days on the Internet and the phone looking for work. His wife, Kelly, who had been home caring for their toddler son, reluctantly returned to teaching preschool. But her part-time work meant a huge cut in wages and benefits, forcing them to sell a car and slash Christmas spending.
FundQuest has added Fidelity Investments Life Insurance Co.'s Personal Retirement Annuity to its platform, marking the first time that the Fidelity variable annuity will be available to fee-based advisers through a managed-account provider.
