Regional news: Archive for April, 2011
A former insurance agent from Clayton, Calif., was sentenced to nearly four years in state prison for his role in a $800,000 Ponzi scheme involving stranger-owned life insurance (STOLI). Read Story
Two Republican congressional leaders have written to Internal Revenue Service Commissioner Doug Shulman demanding information on how the IRS is spending $1 billion in funds the ... Read → Read Story
Aetna entered an agreement to acquire its first independent third-party administrator (TPA) of self-funded health care plans for about $600 million. Read Story
Insurers' ability to capitalize on the growth potential of retirement income products will be controlled by their success at managing the risks associated with the products, according to a new study. Read Story
Voluntary and worksite benefit sales are down for the first time in history, a delayed effect of the financial recession, according to a new report. Read Story
Two years ago, insurance giant American International Group outraged the nation when it paid $165 million in bonuses to traders in the division that had run up such ... Read → Read Story
A Pennsylvania lawsuit asks that the governor be forced to reinstate adultBasic after the auditor general said the government used one-third of the money legally designated to health programs for other purposes. Read Story
An Opelousas, La., insurance agent was arrested on two counts of unfair trade practices after allegedly misappropriating two clients’ funds. Read Story
Two insurance trade groups are lobbying North Carolina's legislature for for auto insurance reforms, including an incremental approach to decreasing the number of motorists in the state's high-risk auto insurance pool. Read Story
Allstate Insurance Co. is urging New York lawmakers to find ways to combat the growing number of no-fault insurance frauds that trade groups say cost drivers more than $200 million last year. Read Story
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