Congress might consider reversing the idiotic Rule 151A, which brings indexed annuities into line with securities and thus under the purview of the SEC, effectively shutting insurance agents out of ...  Read →  Read Story

NAIC backs bill to reverse SEC’s Rule 151A annuities regulation

The National Association of Insurance Commissioners is throwing its support behind proposed legislation to reverse a pending move by the U.S. Securities and Exchange Commission to classify indexed annuities as ...  Read →  Read Story

Insurer admits to shifting costs to NFIP in Katrina case

An insurance company admitted to shifting its costs to the federal National Flood Insurance Program in the first wind versus water damage case from Hurricane Katrina to reach Mississippi’s high ...  Read →  Read Story

Symetra Life Insurance Co. has enhanced its Symetra Freedom Income Annuity so clients who want to use qualified or tax deferred money, including rollovers from a 401(k) or IRA, can ...  Read →  Read Story

A Syosset, N.Y., dentist will serve a minimum of two years in prison after pleading guilty in federal court to submitting bogus medical claims for Port Authority police officers, costing ...  Read →  Read Story

Maryland launches free prescription card for uninsured

Maryland has joined several of its neighboring states in offering a new free drug card program that can provide savings of up to 75% on prescription drugs to the uninsured ...  Read →  Read Story

The Hartford to pay $150,000 to Delaware’s AARP auto policyholders

A settlement has been reached in a pair of complaints against the companies that sell AARP auto insurance in Delaware, resulting in refunds or credits to 1,276 policyholders in the ...  Read →  Read Story

Jersey City, N.J.-based Torus Specialty Insurance Co. has received its license to write property-casualty business in Delaware, giving the company the authority to write surplus lines in 42 states.

Torus provides ...  Read →  Read Story

Political action on risk assessment would mean higher health premiums, group says

As politicians eliminate or ignore traditional methods of assessing risk for health insurers, the likelihood of increased health insurance premiums grows, according to an analysis performed for the Council for ...  Read →  Read Story

N.C. insurance adjuster charged with embezzling client’s premiums

The owner of a Greensboro, N.C., insurance adjusting firm has been accused of taking more than $89,000 in payments intended for one of her clients.

Ashley C. Waddell, 39, was arrested ...  Read →  Read Story