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April 17, 2017
 
Print Version of April 17 ICI
Print this file for text of articles in the current issue....
 
Best Practice Tip: What I Learned As Insurance Commissioner
Hire good people and let them do their jobs, give back to others, and don't chase chickens is among the advice from former Iowa commissioner Nick Gerhart....
 
Arbitrators Award $1 Million for Misleading Variable Annuity Sales Promise
The investment didn’t provide the rate of return a consumer allegedly was promised at the time of purchase....
 
Insurance Agent, Cohorts Paying Up for Variable Annuity Scheme
The agent and a mortgage broker were found to have induced elderly clients to take out reverse mortgages and invest the proceeds in unsuitable variable annuities....
 
Washington Issues Fines for Unsuitable Annuity Sale, Late Claims, Interest Rate Issues
Two insurance companies were fined $1,500, and a producer was punished for selling an unsuitable annuity, in Washington state's latest round of disciplinary actions....
 
California Supreme Court Rules Some Mandatory Arbitration Clauses ‘Invalid, Unenforceable’
At issue were arbitration provision that waived an individual’s right to bring claims for public injunctive relief....
 
Texas Insurance Commissioner Has Died
David Mattax, 60, lost his fight with cancer....
 
Insurance Regulations, Bulletins & Legislation – April 17, 2017
Our exclusive roundup of recent regulatory developments and legislation....