IFAwebnews » consumer protection

Blue Cross, Blue Shield firms report $510 million in fraud recoveries

IFAwebnews Staff — Wed, 02 Jun 2010 12:15:48 +0000

Blue Cross and Blue Shield companies’ anti-fraud investigations resulted in recoveries of more than $510 million in 2009, according to data released by the Blue Cross and Blue Shield Association (BCBSA).

Blue Cross, Blue Shield firms report $510 million in fraud recoveries via IFAwebnews.

Auto market reform in Mass. ‘unnecessary and ill-advised,’ group says

Keith L. Martin — Tue, 01 Jun 2010 12:41:10 +0000

A series of proposed new regulations in Massachusetts, calling for greater consumer protections in the auto insurance marketplace, are both ‘unnecessary and ill-advised,” according to an industry group.

Auto market reform in Mass. ‘unnecessary and ill-advised,’ group says via IFAwebnews.

Pa. agents lobby legislators for role in any state health exchange

Bob Graham — Thu, 27 May 2010 13:06:05 +0000

Health insurance agents and brokers in Pennsylvania want to be included in any health exchange created in the state.

Pa. agents lobby legislators for role in any state health exchange via IFAwebnews.

Industry reaction mixed to new Wisconsin anti-STOLI law

Keith L. Martin — Tue, 18 May 2010 16:30:03 +0000

Two industry groups are praising Wisconsin Gov. Jim Doyle for signing into law tough new rules on stranger-originated life insurance (STOLI) transactions, while another organization indicates the measure will deny consumer rights.

Industry reaction mixed to new Wisconsin anti-STOLI law via IFAwebnews.

Florida senator calls for firing of state insurance commissioner

Keith L. Martin — Thu, 13 May 2010 18:54:52 +0000

A Florida senator is repeating his call for the ousting of the state’s insurance commissioner, calling his behavior “reprehensible” and saying he is no longer trustworthy.

Florida senator calls for firing of state insurance commissioner via IFAwebnews.

Rockefeller ‘extremely’ concerned over medical loss ratio mandate

Keith L. Martin — Wed, 12 May 2010 11:41:53 +0000

The chairman of the U.S. Senate Committee on Commerce, Science and Transportation is offering suggestions on how health insurers nationwide can honor the intent of new mandates on medical loss ratio under new federal law without attempting to “game” the system.

Rockefeller ‘extremely’ concerned over medical loss ratio mandate via IFAwebnews.

N.J. bill protecting seniors from misleading advisor titles advances

Keith L. Martin — Fri, 07 May 2010 12:33:03 +0000

A bill prohibiting the misleading use of senior-specific certifications or professional designations for financial advisors linked to the sale of securities is moving forward in New Jersey.

N.J. bill protecting seniors from misleading advisor titles advances via IFAwebnews.

PID warns consumers to ‘be wary’ of post-reform health scams

Keith L. Martin — Wed, 05 May 2010 12:25:09 +0000

Joining a growing number of states warning residents to be on the look-out for scammers taking advantage of national health reform, regulators in Pennsylvania are urging anyone with questions or concerns to contact them first.

PID warns consumers to ‘be wary’ of post-reform health scams via IFAwebnews.

Wells Fargo to appeal contingent commission ruling in Connecticut

Keith L. Martin — Fri, 30 Apr 2010 12:52:48 +0000

Wells Fargo says it plans to appeal a Connecticut court ruling against its insurance brokerage, Acordia, regarding improper disclosure of contingent commissions.

Wells Fargo to appeal contingent commission ruling in Connecticut via IFAwebnews.

NAIFA shuns stranger-originated annuity transactions

Bob Graham — Thu, 29 Apr 2010 12:34:00 +0000

A trade group of insurance and financial service professionals has voiced its opposition to the growing use of stranger-originated annuity transactions (STATs).

NAIFA shuns stranger-originated annuity transactions via IFAwebnews.