Insurance

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Death-Bond Fraud Was Wide Ranging, Alleges Trustee

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A bankrupt seller of life settlements cheated investors by lying about when policies lapsed, charging massive undisclosed fees and deceiving them about its practices in order to dodge securities...

AXA To Divest Holdings In Coal Companies Over Climate Change

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France’s largest insurer will scrap holdings in coal companies because of concerns about climate change, broadening support for the fossil-fuel divestment movement to a major mainstream investor.

Exorbitant Drug Costs Lead California To Cap Copayments

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Covered California, the state’s health insurance exchange, changed the designs of its plans to cap policyholders’ monthly copayments for specialty drugs and help curb costs for consumers.

New York Life Names Blunt To Lead $540 Billion Investments Group

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New York Life Insurance Co., the largest policyholder-owned life insurer in the U.S., named Chris Blunt as head of the investment unit with $540 billion in AUM.

SS Numbers To Be Removed From Medicare Cards

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The provision will make it more difficult for thieves to steal seniors' identities, says a sponsor of the measure.

Prudential Starts Retail Hedge-Fund Wager At Quantitative Unit

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Prudential Financial Inc. the second-largest U.S. life insurer, is introducing a product to allow retail investors to bet with strategies favored by hedge-fund managers.

Voya Nabs $323M Firm From Ameriprise

by FA Staff

Archstone Financial jumps ship to Voya Financial Advisors.

Nationwide Life Fined $8 Million For Manipulating Contract Prices

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Nationwide Life Insurance manipulated mail delivery times to delay processing mutual fund and variable insurance contract orders, according to the SEC.

NAILBA Board Names New DIrector

by FA Staff

Jason Lea of Brokers' Service Marketing Group will complete the final year of a vacated seat on the board of directors.

Number Of Americans Using $100,000 In Medicines Triples

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More than a half-million U.S. patients had medication costs in excess of $50,000 in 2014, an increase of 63 percent from the prior year.

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