Bankers Life Will Change Compliance Practices in Deal with Oregon Bankers Life and Casualty has agreed to review past annuity sales, refund premiums paid for some sales and pay a $150,000 civil penalty to settle Oregon charges that it sold annuities to persons who couldn’t afford them. It must also change its compliance practices to prevent future unsuitable sales....
Treasury Toughens Financial Restrictions on Iran Although the developments don’t impact insurance companies directly, compliance professionals should be aware that the Treasury Department is tightening its financial screws on Iran....
