News
Bill Would Adopt Interstate Insurance Product Regulation Compact
Senate bill 1386 proposed for the 2012 legislative session would adopt the Interstate Insurance Product Regulation Compact in Florida and improve the efficiency of bringing certain products to market in this state. The bill recognizes that the marketplace for lif insurance, annuities, disability income insurance and long-term care insurance have changed over the years warranting …
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Letters to the Editor: Jeff Atwater on insurance case
An article that appeared in the Orlando Sentinel on June 28 (“Annuity probes drop — sparking questions”) could leave one with the impression that the Department of Financial Services’ enforcement of laws involving insurance agents has relaxed since Chief Financial Officer Jeff Atwater took office.
Safeguard Our Seniors Becomes Law
Along with Governor Charlie Crist’s approval of a bill streamlining commercial insurance rates (SB 2176) came approval of the “Safeguard Our Seniors” annuity legislation. The “safeguard Our Seniors” provisions were added to the commercial deregulation bill late in teh session and mark the culmination of three-year effort by CFO Alex Sink to pursue changes to …
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Safeguard Our Seniors Heads to Governor's Desk
Senator Mike Bennett, Representative Maria Sachs and CFO Alex Sink, among others, have been pursuing legislation for several sessions to increase regulatory protections for senior citizens in annuity transactions. Although the proposals appeared at times to be stalled in the current session, they were amended onto a broader insurance bill at the end of the session …
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Investors Recruit Terminally Ill To Outwit Insurers on Annuities
By MARK MAREMONT And LESLIE SCISM PROVIDENCE, R.I.—”Terminal Illness? $2,000 in CASH, Immediately Available.” That was the promise of an advertisement that appeared regularly in 2007 and 2008 in the Rhode Island Catholic, the official newspaper of the local diocese. The money, the ad said, was coming from a “compassionate organization” that wanted to provide …
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