John Hilton

1 week ago | insurancenewsnet.com | John Hilton

Nearly six months after a series of devastating wildfires, California’s property insurance crisis is far from stabilized. Many market participants are focused on the next climate-fueled disaster – be it more wildfires or an earthquake. The Golden State’s property insurance market simply cannot continue without major reforms, experts say. “The home insurance market is in a state of crisis,” reads a new report from Deep Sky, a Canadian carbon removal project developer.

1 week ago | insurancenewsnet.com | John Hilton

The long-term care issue is receiving plenty of attention – both from the explosive growth of LTC riders attached to life insurance, as well as several state and federal proposals. Recenlty, the Senior Issues Task Force met to discuss long-term care trends, issues and long-term prognosis. The task force – a National Association of Insurance Commissioners’ group – is in information-gathering mode, members said.

1 week ago | insurancenewsnet.com | John Hilton

Phillip Roy Wasserman is expected to get another day in court to make his case that state and federal agents broke the law during investigations that led to his fraud conviction. Wasserman was convicted on May 15, 2023, on nine felony counts. The three most serious – wire fraud, mail fraud and conspiracy to commit wire and mail fraud – all carried lengthy prison terms.

2 weeks ago | insurancenewsnet.com | John Hilton

A group of plaintiffs suing UnitedHealth Group over the fund selections in its company retirement plan is seeking final court approval for a $69 million settlement. Judge John R. Tunheim scheduled a hearing on the motion for final approval for 10 a.m. Thursday. The class-action lawsuit alleged that the health care giant cost workers millions in lost gains by forcing them into lower-performing 401(k) options. UnitedHealth Group settled in December.

2 weeks ago | insurancenewsnet.com | John Hilton

National Life Group set a bunch of new sales records in 2024, including $635 million in life insurance policies, $3.4 billion in annuities, and $57.4 billion in assets under management. Life sales were up 20%, while annuity sales increased by 17%. But that is not the mutual company’s focus, CEO Mehran Assadi insisted. “The difference between this organization and some of our competitors ...