Ratings Updates

Entries for September 2010

 

·       The SEC is tasked to produce a report in January on the advisability of a fiduciary standard for broker/dealers.  Holding life insurance sales personnel to a fiduciary level of care may prove transformational for the sales culture of the industry.

·       The GAO is to prepare a study on the role of financial planners.  Some clarity in the market is needed because today it seems that anyone can call themselves a financial planner.

·       The new Federal Insurance Office is being created and the search is on for its first director.

·       A committee of the NAIC (National Association of Insurance Commissioners) has released a draft about STOA - Stranger Owned Annuities - in effort to help companies establish practices to identify and discourage these sales.

·       John Hancock, a major writer of long-term care insurance, has announced a 40% increase in premium on in-force policies.

·       Sales results for the industry indicate a resurgence for whole life insurance policies, recognizing its inherently guaranteed structure.

*         Last month we updated our Top 25 Life Insurance Companies' Ratings on the website based on rankings by assets as published by the National Underwriter.  If you need ratings for any companies not listed please give us a call at 414.9955.



Ratings updates for September 2010

 

  

Insurer

AM Best

S&P

Moody's

ING companies

-

A+ to A

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American Bankers            -            -       A2 to A3