Annuity probes drop in Florida — sparking questions
annuity, Insurance Regulation News, Jeff Atwater, Department of Financial Services
News & Updates
annuity
OIR to Review Life & Annuity Claims Practices
The Florida Office of Insurance Regulation has announced a public hearing at which it will investigate claims settlement practices in the life and annuity industry. The OIR has directed that representatives of two insurers appear in Tallahassee on May 19 to address its concerns, and OIR advises that it continues to examine other insurers. According […]
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 […]
Senate Banking and Insurance Committee Moves Bills On Consumer Credit Protection and Annuity Sales Practices
At today’s Senate Banking and Insurance Committee meeting, the Committee responded favorably to all the proposed legislation on its agenda. SB844 amends the Insurance Code to enhance penalties for unethical annuities sales practices and provides additional consumer protections for senior citizens who purchase annuity products. SB844, introduced by Senator Bennett, was reported favorably by the […]