Four Philadelphia-area men were accused of operating “an elaborate financial fraud scheme,” targeting more than 215 senior citizens in Pennsylvania and stealing more than $700,000.

Two U.S. senators introduced a bill that seeks to “place reasonable and affordable caps” on health insurance fees, deductibles and pharmacy co-payments for retirees from the military as federal officials plan to start shifting more costs to them.

A New Jersey woman was sentenced to county jail for 30 days for her role in creating and negotiating counterfeit checks using an insurance agency’s account information.

A federal jury in Richmond, Va., found the president of a Costa Rican company that sold reinsurance bonds to life settlement companies guilty of carrying out a $500 million fraud scheme that affected more than 2,000 victims throughout the United States and abroad.

A Baltimore, Md., insurance broker pleaded guilty this month to stealing about $2.6 million from a New Jersey city school district and $216,495 from the city for a non-existent wellness program.

An insurance agent for Larsen Global Marine in New Jersey was indicted for allegedly failing to remit insurance premiums she collected.

The Pennsylvania Insurance Department approved the merger of Harleysville Mutual and Nationwide Mutual insurance companies with conditions designed to protect the Harleysville brand and its Pennsylvania operations for several years.

Ray Flachbart, the head of Blue Cross of Idaho for the last 10 years, announced his retirement from the position, effective in March 2013.

Symetra Investment Services has formed a strategic partnership with Crump Life Insurance for the sale of life insurance and annuities.

Owners of a New York sewer plant have sued the insurance company in federal court for more than $3.5 million over its denial of coverage for a wall collapse last year.