Pennsylvania insurance commissioner promotes education about annuities

Annuities retirement strategy pennsylvania insurance commissioner

Teresa Miller spoke at the Foxdale Village Retirement Community, urging people to understand their finances. Pennsylvania Insurance Commissioner Teresa Miller spoke to seniors at the Foxdale Village Retirement Community located in State College. Miller focused on the importance for consumers, especially seniors, to take the time to understand annuities. She said this was vital to enabling them to protect their retirement incomes. The insurance commissioner spoke about how people should be educating themselves about this important point. “Annuities are designed as long term investments to provide income over a period…

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Zenefits under investigation by California insurance regulators

insurance companies investigation

The software company has now had its business practices called into question and officials will be examining them. Zenefits, a software company, is now facing an investigation by California insurance department officials, as the firm’s business practices have been called into question. The California Department of Insurance released a statement with regards to the investigation that launched last year. While the California insurance officials have only just recently announced that they are looking into Zenefits and the way it conducts its business, it also stated that its efforts started back…

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Nevada insurance commissioner resigns, effective July 2

Nevada health insurance commissioner State Legislature Building

The state’s chief regulator, Scott Kipper did not give any reason for his choice to step down from his position. At the end of last week, the Nevada insurance commissioner, Scott Kipper announced that he has resigned and that this will become effective in less than a month, as of July 2. He made the announcement quite recently at the same time that he praised his division’s achievements. He expressed that “It has been an honor to have served the state of Nevada as commissioner.” As he resigned as Nevada…

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Insurance rates in Colorado receive approval for increase

insurance rates rise

Regulators have now given their permission to increase premiums by 1 percent. Colorado state regulators have now given their approval to raise the insurance rates for over 1,000 different health plans that are being offered by more than 20 different carriers, for 2015. Though not all of those plans will see increased rates, the average will be a very slight premiums rise. When compared to the previous year, the insurance rates will be increasing by an average of 1.18 percent, next year. The areas that typically face the highest health…

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Insurance supervision head named by federal government

Thomas Sullivan Insurance

Thomas Sullivan, the former Commissioner in Connecticut, has now taken on the position. The Federal Reserve has just announced that it will be hiring the former Insurance Commissioner from Connecticut, Thomas Sullivan, in order to take the lead of the oversight of the industry, particularly in terms of the largest firms. The goal is to add his experience to help to address the claims that the central bank does not have knowledge of that business. Thomas Sullivan held the position as Commissioner in Connecticut throughout the financial crisis and was…

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