IFAwebnews » Thomas R. Sullivan

Malloy’s pick for Conn. insurance commissioner called ‘fast and loose’

Bob Graham — Mon, 21 Feb 2011 14:25:23 +0000

Thomas B. Leonardi, a financier who advises the insurance industry tapped to serve as Connecticut insurance commissioner, was described by a state judge as “fast and loose” with a state fund he established to boost industry jobs in the state.

Malloy’s pick for Conn. insurance commissioner called ‘fast and loose’ via IFAwebnews.

Connecticut Insurance Commissioner Sullivan resigns

Bob Graham — Thu, 04 Nov 2010 22:14:47 +0000

Connecticut Insurance Commissioner Thomas Sullivan announed his resignation Nov. 1, effective Nov. 15, when he will take a position at PricewaterhouseCoopers in Hartford, Conn.

Connecticut Insurance Commissioner Sullivan resigns via IFAwebnews.

NAIC committee asked to regulate stranger-owned annuities

Bob Graham — Fri, 21 May 2010 16:00:19 +0000

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.

NAIC committee asked to regulate stranger-owned annuities via IFAwebnews.

‘Ghoulish’ STATs compared to STOLI ‘schemes’ as NAIC readies review

Bob Graham — Wed, 19 May 2010 12:00:18 +0000

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.

‘Ghoulish’ STATs compared to STOLI ‘schemes’ as NAIC readies review 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.

GEICO units fined $177,500 for several violations of Connecticut law

Keith L. Martin — Mon, 12 Apr 2010 12:19:05 +0000

Four subsidiaries of property-casualty insurer GEICO, based in Maryland, were fined $177,500 by regulators in Connecticut for violations of state laws, ranging from improper rating to claims payment delays.

GEICO units fined $177,500 for several violations of Connecticut law via IFAwebnews.

NAIC to explore stranger-owned annuities at hearing in D.C. May 20

Bob Graham — Tue, 30 Mar 2010 13:10:59 +0000

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.

NAIC to explore stranger-owned annuities at hearing in D.C. May 20 via IFAwebnews.

Conn. state senator cites premium hikes as need for elected regulator

Keith L. Martin — Wed, 10 Mar 2010 12:41:11 +0000

Premium increases by health insurers across the nation are taking center stage to justify the need for health care reform, as a way to stuff the pocket of company executives and now, in Connecticut, the reason the state should elect its insurance commissioner.

Conn. state senator cites premium hikes as need for elected regulator via IFAwebnews.

NAIC to hold hearing on stranger-owned annuity sales, its ‘victims’

Bob Graham — Fri, 05 Mar 2010 12:49:05 +0000

The National Association of Insurance Commissioners intends to hold a hearing to explore the sale of annuities in the secondary insurance market.

NAIC to hold hearing on stranger-owned annuity sales, its ‘victims’ via IFAwebnews.

Connecticut fines Zurich $235,000 for various violations of state law

Keith L. Martin — Tue, 02 Mar 2010 13:07:02 +0000

Pledging to be “vigilant” in enforcing the state’s insurance laws, Connecticut’s insurance commissioner has fined Zurich Insurance Group $235,000 for several violations, including the use of unlicensed agents and adjusters.

Connecticut fines Zurich $235,000 for various violations of state law via IFAwebnews.