Life, Death, Taxes ... And Compliance Involvement in AML To the old saw about the only certain things in life are birth, death and taxes, add compliance persons shouldering the load for anti-money laundering red flag monitoring at life insurance companies. That fact of life has been confirmed in the preliminary results of an American Council of Life Insurers survey....
Compliance, Legal Experts See Benefits In Forging Closer Working Relationships An insurance company can benefit if its compliance and legal areas form a partnership that takes advantage of the strengths and weaknesses of each entity. In fact, a panel of life insurance exectuives said an industgry meeting that increasing complexity in state and federal regulation might actually require such an arrangement....
Flood insurance is back in the news. The Justice Department says it is interested in allegations that insurers billed the federal fllod insurance program for wind claims. In another development, a trade group is urging Congress to not include windstorm coverage to the flood program....
For the first time, the Insurance Marketplace Standards Association will develop standards for claims handling. Its board of directors voted June 28 to develop the standards for long-term care products....
SIU Salary Survey Responses Indicate Pay May Not Be Commensurate With Duties Preliminary results of ICI’s 2007 SIU Salary Survey show that four in 10 say they aren’t satisfied swith their compensation. If that rings true with you – or even if it doesn’t – tell us in the salary survey designed specifically for anti-fraud professionals....
