He’s no Bernie Madoff, but the man known as the “financial advisor to the stars” is not helping the cause of the average insurance agent or financial service professional. The …  Read →

A government watchdog group has sent a letter to congressional committees in charge of financial oversight asking them to challenge the government’s reliance on financial self-regulatory organizations like the Financial Industry Regulatory Authority (FINRA).

The number of insurance agents involved in suspected frauds has risen since the recession took hold, a new survey found.

A pair of insurers have reached a settlement with life insurance policyholders and those with annuity policies lost through Bernard Madoff’s fraudulent Ponzi scheme.

Argus Group Holdings Ltd. and Tremont International …  Read →

Million in losses from victims of Bernard Madoff’s Ponzi scheme have been paid off by insurer American International Group under homeowners insurance policies that covered “fraud, embezzlement or forgery.”

The insurer, …  Read →

Fueled by two large-scale Ponzi schemes, securities litigation in the commercial insurance industry is “surging,” according to an analysis of first quarter activity, which showed an increase of 44 cases …  Read →

A group of investors that lost $3.3 billion to Bernard Madoff has filed 18 civil suits against Massachusetts Mutual Life Insurance Co., saying the insurer should cover the losses of …  Read →

While Bernie Madoff, the biggest known crook to have walked Wall Street, could face life in prison, an Ohio insurance agent might get off relatively scot-free: He faces only 30 …  Read →

The simmering debate over how to regulate insurance in this post-AIG bailout 1, 2 and 3, Bernie Madoff scandal and “will-I-have-enough-to-retire-in-20-years? world appears to have taken yet another turn, according …  Read →

While it is not likely, it is possible that payouts to “clients” of Bernie Madoff — the Wall Street swindler who operated what is probably the largest Ponzi scheme in …  Read →