I’m not sure how many of the 45 agents and brokers busted after an investigation in New York knew they were breaking the law. (click here for IFAwebnews.com article)

Surely, some had ...  Read →  Read Story

43 New York insurance agents, brokers fined after accepting kickbacks

Agents and brokers at more than two dozen insurance agencies in Western and Central New York were fined as much as $5,000 each after accepting gift cards in return for recommending two specific glass shops to their customers. Another agent had his insurance license revoked.  Read Story

Paterson cuts millions in Medicaid for New York residents

As part of a two-year, $5 billion deficit reduction plan, New York Gov. David A. Paterson is cutting nearly $500 million in Medicaid and other health and mental hygiene programs in the state.   Read Story

Colorado health insurer finds flaw, now to cover babies of any weight

A Colorado health insurer is reversing its decision not to cover a baby because he was too fat, following nationwide media attention given to the matter.  Read Story

Allianz Life wins federal suit alleging improper annuities marketing

A federal jury has ruled in favor of Minneapolis, Minn.-based Allianz Life Insurance Co. in a suit alleging the company is using unclear marketing materials to sell its annuities.   Read Story

Elizabethtown agent sanctioned for bilking investors of $229,000

A licensed insurance agent from Elizabethtown, Pa., was barred from associating with any FINRA members after he was found to have sold $180,000 in fake investments and misappropriated $49,000 in insurance proceeds, records show.  Read Story

Mississippi congressman urges Obama to add wind coverage to NFIP

On the heels of the president’s trip to New Orleans, Rep. Gene Taylor (D-Miss.) is calling for reform to the National Flood Insurance Program, including the addition of wind coverage.  Read Story

New Jersey man confesses to $6 million life insurance Ponzi scheme

An Island Heights, N.J., man told investors he would put their money in life insurance policies, but instead put some of it in his own pockets, cheating dozens of clients out of $6 million.  Read Story

Richmond company boosts benefits rather than raise pay

In light of the recession, the James River Bus Lines was unable to give its 180 employees a pay raise. Instead, it upped contributions to their benefits plans.  Read Story

D.C. warns insurers not to use domestic violence as factor in policies

The District of Columbia Department of Insurance, Securities and Banking is reminding insurers they are not to use information regarding domestic violence or spousal abuse as a factor in issuing life or health insurance policies to victims.  Read Story