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Insurance regulators adopt climate change risk disclosure starting in 2010
The National Association of Insurance Commissioners is going to force insurance companies to disclose the financial risk they face from climate change, starting May 1, 2010. The organization announced...
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Annuity suitability, disclosure requirements take effect April 1 in New Jersey
New suitability and disclosure rules for the sale of individual fixed deferred and immediate annuities go into effect in New Jersey April 1 and include a so-called 10-day free look period. Steven M....
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Tyler proposes greater transparency in P-C policy payments
In response to complaints about producers steering clients into premium finance arrangements, Maryland Insurance Commissioner Ralph S. Tyler wants to force agents to provide full disclosure of all...
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Prudential pushes for simple disclosures in pension plan reform
Government reform of pension plan regulations should guarantee participants that disclosures will be “relevant, timely and succinct,” according to Prudential Financial. The Newark, N.J.-based financial...
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Life company execs pay $1 million to settle SEC disclosure inquiry
Two executives of an Iowa life insurance company will pay a combined $1 million in penalties as part of civil settlements with the U.S. Securities and Exchange Commission regarding misleading proxy...
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Minn. regulators fine company for $28 million in unapproved annuities
Less than a week after paying $1 million in a settlement with the U.S. Securities and Exchange Commission over misleading proxy disclosures, an Iowa company now faces a $275,000 fine for allegedly...
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AXA Equitable Life pays $1.9 million fine for New York infractions
AXA Equitable Life Insurance Co. paid a $1.9 million fine for violating New York’s insurance laws between 2001 and 2006, regulators said. The New York State Insurance Department said the New York-based...
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Life settlements firm to pay $170,000 for unregistered Va. securities
A Texas-based life settlements firm has agreed to a settlement with Virginia regulators over allegations it failed to register its securities. R. Scott Peden Life Partners Inc. (LPI), headquartered in...
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MIA issues fines for incomplete, lack of fraud language by insurers
The Maryland Insurance Administration fined a number of companies $10,000 late last year for failing to include required fraud disclosure statements in forms and applications issued last year, records...
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