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February 3, 2012
Prudential agrees to $17M unclaimed property settlement
The Florida Office of Insurance Regulation (Office) along with the Department of Financial Services (DFS) and the Office of the Attorney General (AG) today announced a multi-million dollar settlement agreement with Prudential Insurance Company of America and its affiliates (Prudential). By entering this agreement, Prudential is taking a leadership role in the industry to invest resources into efforts to locate beneficiaries of life insurance policies after the insured has died, but a claim has not been received.... Full Story
News from National Underwriter

February 3, 2012
Northwestern Mutual to recruit more than 5,000 agents in 2012
A Great Lakes-based insurer has unveiled an initiative to significantly expand its workforce of career life insurance agents.... Full Story
News from National Underwriter

February 3, 2012
401(k) fee disclosure rules clarified, deadline delayed
Plan sponsors will now have until July 1 to meet the much-discussed regulations on 401(k) fee disclosure, following Department of Labor announcements Thursday on the final rulings.... Full Story
News from National Underwriter

February 3, 2012
FIO misses deadline for first report to Congress
The Federal Insurance Office missed its first deadline when it failed to release a much-anticipated report to Congress on how to improve and modernize insurance regulation in the United States by the end of January.... Full Story
News from National Underwriter

February 3, 2012
Death Master File under scrutiny at House hearing
A watchdog at the Social Security Administration testified today that there are about 1,000 cases each month in which a living individual is mistakenly included in the agency’s Death Master File.... Full Story
News from National Underwriter

February 3, 2012
HHS: Medicare Advantage premiums down, enrollment up
Medicare Advantage premiums have fallen by 7 percent, on average, while enrollment in the program has risen by about 10 percent since this time last year, according to Health & Human Services Secretary Kathleen Sebelius.... Full Story
News from BenefitsPro

February 3, 2012
Health care, social assistance to account for one-quarter of new jobs by 2020
Health care and social assistance are currently the fastest growing sectors and will create one-quarter of new jobs by 2020, according to the U.S. Department of Labor.... Full Story
By ProWEB Wire (Industry News)

February 3, 2012
Some prefer bronze
The health savings account (HSA) community is trying to persuade the Centers for Medicare & Medicaid Services (CMS) to make the final minimum medical loss ratio (MLR) regulations friendlier to HSA-compatible health insurance plans.... Full Story
News from National Underwriter

February 3, 2012
SEC charges former Credit Suisse investment bankers over subprime bond pricing scheme
The Securities and Exchange Commission today charged four former veteran investment bankers and traders at Credit Suisse Group for engaging in a complex scheme to fraudulently overstate the prices of $3 billion in subprime bonds during the height of the subprime credit crisis.... Full Story
News from National Underwriter

February 3, 2012
Pension agency briefs House panel on finances, retirement challenges
In wide-ranging testimony, Josh Gotbaum, director of the Pension Benefit Guaranty Corporation, told a House subcommittee Thursday that the combination of living longer, the economy, and changes in pension plans was threatening many people's retirement security.... Full Story
News from BenefitsPro

February 2, 2012
Romney, Gingrich vague on retirement issues
When it comes to issues that affect Americans’ ability to retire, the jury is still out on what the 2012 presidential election will bring. ... Full Story
News from BenefitsPro

February 2, 2012
CDHP patients show more cost-conscious behavior
Individuals in consumer-driven health plans are more likely to exhibit more cost-conscious behaviors as compared to those enrolled in traditional coverage, the Employee Benefit Research Institute finds.... Full Story
News from BenefitsPro

February 2, 2012
House votes yay to kill CLASS program, LTCI provision of Affordable Care Act
The U.S. House of Representatives voted 267 to 159 today to repeal the CLASS Program, a stagnating program that was a crucial component of the Affordable Care Act.... Full Story
News from National Underwriter

February 2, 2012
Prudential, MetLife sued over Death Master File
State efforts to collect on unclaimed property held by insurers has mushroomed into private action lawsuits filed in Illinois, Ohio and New York against Prudential and MetLife.... Full Story
News from National Underwriter

February 2, 2012
More TPAs step in to manage benefits: Prudential
A new study by Prudential shows that many companies are turning to third party administrators to outsource their benefits administration.... Full Story
News from BenefitsPro

February 2, 2012
Fidelity: Newly independent advisors better off
A majority of advisors who have recently switched to an independent business model say they are better off financially, according to a new Fidelity survey.... Full Story
By ProWEB Wire (Industry News)