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Recently Published Articles |
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| NCOIL Rejects National Insurance Office |
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Article retrieved 03/16/2010 Contributer: Sean P. Carr, A.M. Best Source: Insurancenewsnet.com |
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The National Conference of Insurance Legislators reiterated its opposition to federal involvement in insurance regulation, specifically calling for insurers to be excluded from systemic risk legislation. |
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| Proposed Systemic Risk Fund Draws Fire From Industry, State Lawmakers |
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Article retrieved 03/16/2010 Contributer: ARTHUR D. POSTAL Source: National Underwriter |
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A provision in financial services reform legislation to be introduced in the Senate this week—which will subject large insurers to federal systemic risk oversight and force them to help bail out even non-insurance firms—is running into heavy fire from various industry groups, including state legislators. |
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| Dodd Looking To Find Ways To Modernize Insurance Regulations |
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Article retrieved 03/16/2010 Contributer: KENNETH R. GOSSELIN Source: Hartford Courant |
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The financial services reform legislation unveiled Monday barely touches on insurance, but it sets the stage for change in that industry nevertheless.
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| A.M. Best Withdraws Ratings of Life of America Insurance Company |
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Article retrieved 03/12/2010 Source: insurancenewsnet.com |
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A.M. Best Co. has affirmed the financial strength rating (FSR) of D (Poor) and issuer credit rating (ICR) of “c” of Life of America Insurance Company (Life of America) (Dallas, TX). The outlook for both ratings is negative. Subsequently, A.M. Best has withdrawn the ratings and assigned an NR-4 to the FSR and an “nr” to the ICR in response to the company’s request to be removed from A.M. Best’s interactive rating process. |
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| NCOIL Urges Insurance Exemptions In Federal Reform Bills |
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Article retrieved 03/11/2010 Contributer: NCOIL Source: Insurance Broadcasting |
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The National Conference of Insurance Legislators (NCOIL) unanimously approved two resolutions on Sunday that reject new federal insurance authorities as proposed in Senate Banking Committee Chairman Chris Dodd’s (D-CT) draft Restoring American Financial Stability Act. |
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Insurance Industry News |
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| NCOIL Urges Insurance Exemptions In Federal Reform Bills |
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Article retrieved 03/11/2010 Contributer: NCOIL Source: Insurance Broadcasting |
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The National Conference of Insurance Legislators (NCOIL) unanimously approved two resolutions on Sunday that reject new federal insurance authorities as proposed in Senate Banking Committee Chairman Chris Dodd’s (D-CT) draft Restoring American Financial Stability Act. |
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| State Insurance Experts See Flaw in Obama’s Plan to Curb Health Premiums |
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Article retrieved 03/09/2010 Contributer: ROBERT PEAR Source: New York Times |
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At the heart of President Obama’s drive to rein in health costs is a proposal for federal review and regulation of health insurance premiums, with a new agency empowered to block excessive rate increases. |
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| Life Insurers Continue to Face Challenging Environment, Enhanced Regulation in 2010--Ernst & Young |
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Article retrieved 03/01/2010 Contributer: Ernst & Young Source: bizjournals.com |
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The US life insurance industry will likely face an extended period of weak earnings, slow growth and greater regulatory oversight as the economy slowly recovers from the financial crisis, according to Ernst & Young's Global Insurance Center 2010 U.S. Outlook for the life insurance industry. |
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| MIB Life Index Reports North American Life Insurance Activity Up 3.9% in November |
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Article retrieved 03/01/2010 Contributer: MIB Group, Inc. Source: bizjournals.com |
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North American application activity for individually underwritten life insurance jumped +3.9% in November year-over-year, according to the MIB Life Index(SM). |
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| LIMRA Releases Top 20 Annuity Companies in 2009 |
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Article retrieved 02/26/2010 Contributer: LIMRA Source: www.insurancenewsnet.com |
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Today, LIMRA released its list of the top 20 writers of overall total annuities, variable annuities |
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| LIMRA: Life Insurance Sales Drop 15% in 2009 |
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Article retrieved 02/26/2010 Contributer: LIMRA Source: www.insurancenewsnet.com |
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Total new annualized premium for individual life insurance declined five percent in the fourth quarter of 2009, resulting in a 15 percent reduction for the year as compared to 2008, according to LIMRA’s quarterly individual life insurance sales survey.
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| MIB: Life Insurance Activity Up 1.2% in Jan. |
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Article retrieved 02/17/2010 Contributer: PR Newswire US Source: www.insurancenewsnet.com |
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U.S. application activity for individually underwritten life insurance increased +1.2% in January year-over-year, according to the MIB Life Index(SM). |
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Federal Regulation |
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| NCOIL Rejects National Insurance Office |
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Article retrieved 03/16/2010 Contributer: Sean P. Carr, A.M. Best Source: Insurancenewsnet.com |
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The National Conference of Insurance Legislators reiterated its opposition to federal involvement in insurance regulation, specifically calling for insurers to be excluded from systemic risk legislation. |
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| Proposed Systemic Risk Fund Draws Fire From Industry, State Lawmakers |
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Article retrieved 03/16/2010 Contributer: ARTHUR D. POSTAL Source: National Underwriter |
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A provision in financial services reform legislation to be introduced in the Senate this week—which will subject large insurers to federal systemic risk oversight and force them to help bail out even non-insurance firms—is running into heavy fire from various industry groups, including state legislators. |
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| Dodd Looking To Find Ways To Modernize Insurance Regulations |
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Article retrieved 03/16/2010 Contributer: KENNETH R. GOSSELIN Source: Hartford Courant |
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The financial services reform legislation unveiled Monday barely touches on insurance, but it sets the stage for change in that industry nevertheless.
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| Proposed Systemic Risk Fund Draws Fire From Insurers, NCOIL |
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Article retrieved 03/11/2010 Source: NU Online News Service |
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A provision in upcoming financial services reform legislation that will subject large insurers to federal oversight is running into heavy opposition from various industry groups, including state insurance legislators.
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Guaranty System in the News |
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| Guaranty Firms Worry About Senate Financial Reform Bill |
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Article retrieved 03/10/2010 Contributer: ARTHUR D. POSTAL Source: National Underwriter |
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Guaranty fund trade groups have written Senate Banking Committee members urging them to exclude insurance companies from any legislation creating a separate authority to regulate large financial institutions. |
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| Delaware Raises Guaranty Fund Limits |
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Article retrieved 02/18/2010 Source: National Underwriter |
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Delaware Gov. John Markell has signed a bill that will increase the amount of protection that the Delaware Life & Health Insurance Guaranty Association can offer consumers affected by carrier insolvencies. |
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Company News & Downgrades |
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| A.M. Best Withdraws Ratings of Life of America Insurance Company |
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Article retrieved 03/12/2010 Source: insurancenewsnet.com |
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A.M. Best Co. has affirmed the financial strength rating (FSR) of D (Poor) and issuer credit rating (ICR) of “c” of Life of America Insurance Company (Life of America) (Dallas, TX). The outlook for both ratings is negative. Subsequently, A.M. Best has withdrawn the ratings and assigned an NR-4 to the FSR and an “nr” to the ICR in response to the company’s request to be removed from A.M. Best’s interactive rating process. |
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| A.M. Best Downgrades Ratings of Atlanta Life Insurance Company |
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Article retrieved 03/10/2010 Source: TMCnet.com |
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A.M. Best Co. has downgraded the financial strength rating to B- (Fair) from B (Fair) and issuer credit rating to "bb-" from "bb+" of Atlanta Life Insurance Company (Atlanta Life) (Atlanta, GA). |
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| Calif. Regulator Announces Golden State Mutual Policies To Be Transferred to IA American Life Insura |
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Article retrieved 03/01/2010 Contributer: California Department of Insurance Source: Insurance Journal |
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To protect policyholders, Golden State Mutual Life Insurance Co. has entered into a letter of intent with IA American Life Insurance Co. to negotiate a reinsurance agreement to transfer all in-force insurance policies of Golden State Mutual, the California Department of Insurance reported. |
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| New settlement in Met suit |
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Article retrieved 02/24/2010 Contributer: John Stucke Source: The Spokesman-Review |
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A $38 million settlement proposed Tuesday in the Metropolitan Mortgage & Securities Co. class action lawsuit would help several thousand investors recoup some losses from Spokane’s largest business collapse. |
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