Insurable Interest Canadian Insurance Blog

HOUSTON – February 21, 2019 – American International Group, Inc. (NYSE: AIG), whose domestic life insurers are leaders in the term life insurance market, announced today the setting of some of the lowest premiums in years for Select-a-Term®, the flagship term product issued by American General Life Insurance Company (AGL) and The United States Life Insurance Company in the City of New York (US Life). Select-a-Term features improved rates for policies with longer term durations and death benefit amounts of $250,000 and above for certain issue ages and risk classes. “As part of our ongoing commitment to protecting individuals, families and businesses, we’re pleased to offer a wide range of solutions for diverse needs and budgets,” said Rod Rishel, Chief Executive Officer, Life Insurance, AIG. “With Select-a-Term’s new rate structure, our distribution partners have the opportunity to offer customizable life insurance at even more competitive prices.” AGL and US Life have robust positions in the $500,000 and above market for term life insurance. Nationwide, nearly 70 percent of the Select-a-Term premium rates rank in the top two and 85 percent rank in the top three. In New York, more than 85 percent of the premium rates rank in the top...

Northwestern Mutual’s 2018 business results reflect a strong and vibrant company known for delivering value to clients year after year. Exceptional surplus growth, an increase in operating gain and an all-time-high General Account investment portfolio demonstrated industry-leading financial strength, enabling the company to continue investing in innovation to deliver a personalized financial security experience for clients. “We exist to help clients achieve financial security, and our company’s financial strength ensures we are well positioned to deliver on our promises for generations to come,” said John E. Schlifske, chairman, president and chief executive officer. “I’m proud of these results, which show that our wise investment approach and diligent expense management enable us to consistently deliver value to everyone who counts on us. We continue to be preeminently the policyowners’ company.” The company continued its track record of maintaining the highest financial strength ratings awarded to any U.S. life insurer by all four of the major rating agencies.1 Highlights of company results as of year-end 2018 included: Exceptional surplus growth: In 2018, Northwestern Mutual grew its total surplus (including Asset Valuation Reserve or AVR) by $1.5 billion to $26.7 billion – the highest in company history. Surplus is a critical contributor to...

Allstate Benefits believes new enhanced product will offer employers and employees peace of mind

His past decision to not have his children vaccinated against the disease might very well have led to an outbreak

The group acting in support of cannabis patients has gained more allies as a key government announcement looms

Inappropriate application of diagnostic tests could create healthcare savings and improve outcomes for patients

Feb. 19–DeLand police said they arrested a woman for stealing more than $188,000 from her aunt. Brandie Woodward, 35, was charged with exploitation of the elderly and is being held in the Volusia County Branch Jail on $5,000 bail, city of DeLand spokesman Chris Graham said. According to Woodward’s arrest report, her 79-year-old aunt told police that she became suspicious after not getting bank statements in the mail for a month. After checking with her bank, the aunt discovered that her niece had put her address down to have bank statements sent to her that was why the aunt was not getting them in the mail, police said. Woodward also made herself the beneficiary of her aunt’s life insurance and transferred more than $165,000 of her aunt’s money into her account, a report states. The victim said she had initially given Woodward power of attorney in March 2017 but then revoked the authority in May 2018. Police determined Woodward stole the money between December 2016 and April 2018, a report states. ___ (c)2019 The News-Journal, Daytona Beach, Fla. Visit The News-Journal, Daytona Beach, Fla. at www.news-journalonline.com Distributed by Tribune Content Agency, LLC. The post Florida Police: Niece Steals $188,000, Life...

The MFDA has fined De Thomas Wealth Management Corp. $40,000 plus costs in the amount of $10,000.

Canada has reached a tipping point in organizational cyber risk, says Brian Rosenbaum of Aon.