A trade group representing insurance agents and financial service professionals submitted its comments on the Federal Insurance Office’s Dodd-Frank study on modernizing and improving insurance regulation.

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).

The chairman of a National Association of Insurance Commissioners (NAIC) committee compared stranger-originated annuity transactions (STATs) to cockroaches, while others suggested the need for tighter regulation of the growing practice.

The friction between investors looking for opportunities and insurance companies whose products inadvertently provide those opportunities is forcing a hard look at stranger-originated annuity transactions (STATs), according to an industry expert.

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.

A national life insurance settlement association has come out in opposition to the practice of stranger-originated annuity transactions, or STATs.

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

A Davie, Fla., insurance agent is accused of scamming senior citizens out of millions of dollars by making misrepresentations on life insurance applications to later sell them as stranger-originated life insurance (STOLI) policies.

The National Association of Insurance Commissioners plans to hold a public hearing May 20 in Washington, D.C., to explore the emergence of stranger originated or stranger owned annuities.

Joining several other states, Pennsylvania is seeking a tougher stance on stranger originated life insurance, or STOLI.