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 quartet of insurance industry trade groups, representing nearly 500,000 industry professionals, is voicing a joint request for a stronger statement on the U.S. Department of Health and Human Services’ web portal for consumers exploring health insurance options on the role of insurance agents and brokers.

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

PAHU President Shelly Bloom: “We are still reviewing a 2,700-page bill and conflicting timelines of changes and regulations. I think there have been more questions recently [from members] and we need to wait for the answers from the federal government.”

Three months after being named the acting chief executive officer for the National Association of Insurance and Financial Advisor, Susan Waters was named the organization’s official leader.

Thomas Currey, president of the National Association of Insurance and Financial Advisors (NAIFA), warns life insurance agents and financial service professionals that proposed legislation could change how they do business.

Specifically, …  Read →

Susan B. Waters recently assumed the position of acting chief executive officer of the National Association of Insurance and Financial Advisors.

The National Association of Insurance and Financial Advisors says it “exceeded all sales targets” for the LUTCF and FSS designation in 2009, opening the door to a deal to award partial scholarships for the career advancement courses this year.

Keith Olbermann, the MSNBC loudmouth whose ratings  are tanking faster than a bowling ball in a barrel of shaving cream, is lying to his dwindling number of viewers about corporate …  Read →