Archive for August 2013
Florida cracking down on life insurance companies
Florida, along with other larges states like California and New York, is making sure that insurance companies are regularly searching for unclaimed death benefits.
Read MoreEmployee benefits program drawing ire at Penn State
While many companies and workers alike have been able to find numerous positives from employee benefit plans that reward healthy behavior, it seems that one problem some may have actually comes in implementing them, as was highlighted by a recent case in Pennsylvania.
Read MoreAre life insurers doing enough to reach Generation Y?
Life insurance companies are looking for new ways to increase business as a consequence of the decline in interest in such products resulting from the recession. As older Americans began to view these policies as being extraneous, rather than necessary, it might be time to turn the focus to the generation which will eventually replace them.
Read MoreInvestigation uncovers $1.1 billion of unpaid life insurance benefits
Regulatory efforts on the part of numerous agencies at both the state and federal levels in the last few years have focused particularly on various parts the insurance industry, and just such an initiative in New York recently resulted in a number of life insurance companies having to turn over more than $1.1 billion in unclaimed life insurance benefits.
Read MoreNew bill could be boon to life insurers
The life insurance industry has largely been flagging in the years since the recession for a number of reasons. If a new bill before the U.S. Senate is passed, though, it might allow them to see a significant uptick in business in realms they were previously not allowed to explore.
Read MoreMinnesota becomes the latest state to adopt NAIC annuity model
In May, lawmakers in the state of Minnesota became the latest group of legislators to officially adopt a version of the suitability in annuity transactions model put forth by the National Association of Insurance Commissioners in 2010. They did so without a need for the governor's signature.
Read MoreMore workers to receive benefits through healthcare exchanges
The Affordable Care Act has already fundamentally changed the way in which employers will provide health insurance coverage to their workers in the future, but new data suggests the same may be true of other benefits as well.
Read MoreYoung people key to ACA success, but desire to enroll is in question
The Affordable Care Act's coverage mandate goes into effect at the start of next year. Because of this looming date, many are now turning their attention to young people's reaction to the idea that they have to carry insurance policies, which most do not currently have.
Read MoreHigher rates could pose problems for life insurers
Persistent, low interest rates have wreaked havoc on many life insurers' bottom lines in the last few years, but now that rates are starting to rise, that could create a different type of concern for these companies. As such, many may want to assess all of their investment options before making any major decisions.
Read MoreFew small businesses offer voluntary insurance, other benefits
While studies have shown that many companies are making a number of different benefit options available to their employees, this may not be particularly true of small businesses. Consequently, this might present insurance companies with considerable opportunities for growing their business.
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