IFAwebnews » regulation

FIO’s report on insurance regulation could have many tentacles

Bob Graham — Tue, 24 Jan 2012 12:44:55 +0000

A report expected from the Federal Insurance Office later this month, addressing how to modernize and improve insurance regulation, could significantly affect the insurance industry, according to an industry regulatory expert.

FIO’s report on insurance regulation could have many tentacles via IFAwebnews.

Report: N.J. Insurance Commissioner Considine to resign from post

IFAwebnews Staff — Tue, 24 Jan 2012 12:15:18 +0000

New Jersey's insurance commissioner, Tom Considine, is expected to resign his office next month in preparation for a return to the private sector.

Report: N.J. Insurance Commissioner Considine to resign from post via IFAwebnews.

NAIC outlines plan for handling of ULSG and term UL product reserves

IFAwebnews Staff — Sat, 21 Jan 2012 19:00:32 +0000

The association representing state insurance commissioners released a draft framework providing guidance for evaluating the reserves of universal life with secondary guarantee and term universal life products.

NAIC outlines plan for handling of ULSG and term UL product reserves via IFAwebnews.

SEC issues two alerts over risks posed by advisors using social media

Bob Graham — Tue, 10 Jan 2012 12:01:39 +0000

The U.S. Securities and Exchange Commission issued two alerts pointing out risks investors and advisory firms face when using social media like LinkedIn and Facebook.

SEC issues two alerts over risks posed by advisors using social media via IFAwebnews.

SEC accuses investment advisor of selling fake securities on LinkedIn

Bob Graham — Tue, 10 Jan 2012 10:54:34 +0000

The U.S. Securities and Exchange Commission accused an Illinois-based investment advisor with offering to sell fictitious securities on LinkedIn, the social networking site.

SEC accuses investment advisor of selling fake securities on LinkedIn via IFAwebnews.

SEC says Texas firm defrauded investors in life settlement transactions

Bob Graham — Fri, 06 Jan 2012 17:00:23 +0000

Federal securities regulators say a Texas-based life-settlement firm and three of its senior executives “systematically and materially underestimated the life expectancy estimates,” which in turn caused its shareholders to be “duped.”

SEC says Texas firm defrauded investors in life settlement transactions via IFAwebnews.

Phantom proof of auto insurance law puts bump in road for Va. drivers

IFAwebnews Staff — Tue, 27 Dec 2011 09:47:26 +0000

No law in Virginia requires drivers to carry proof of insurance, yet motorists are being charged and convicted of the offense.

Phantom proof of auto insurance law puts bump in road for Va. drivers via IFAwebnews.

GEICO to refund $7.5 million, pay $100,000 fine for Wash. overcharges

Bob Graham — Thu, 22 Dec 2011 14:47:35 +0000

GEICO was fined $100,000 by Washington State officials and ordered to refund about $7.5 million in overcharges to thousands of its customers in the state.

GEICO to refund $7.5 million, pay $100,000 fine for Wash. overcharges via IFAwebnews.

N.D. insurance agent allegedly pockets premiums, accepts unlawful loan

Jaime L. Brockway — Tue, 20 Dec 2011 13:43:28 +0000

A Bismarck, N.D., insurance agent and his agency were served a cease and desist order Dec. 15 for allegedly borrowing money from a client and misappropriating another client's premium payments for personal use.

N.D. insurance agent allegedly pockets premiums, accepts unlawful loan via IFAwebnews.

N.Y. says probe links $52 million in death benefits to beneficiaries

Bob Graham — Mon, 05 Dec 2011 20:07:13 +0000

A New York investigation into life insurers failing to match life insurance policies against master files of deaths has resulted in more than $52.6 million in payments to 7,934 beneficiaries.

N.Y. says probe links $52 million in death benefits to beneficiaries via IFAwebnews.