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January 21, 2013
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News covering the insurance and financial advising industry

  Top Story 
  • CFPB could seek a role in retirement policy
    The Consumer Financial Protection Bureau is exploring whether it has any authority over Americans' retirement savings and investments, says Richard Cordray, the agency's director. The CFPB is concerned that consumers might become victims of financial scams, sources say. Bloomberg (1/18) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Health insurers may limit participation in state exchanges
    The extent to which insurers will participate in state health insurance exchanges mandated by the Affordable Care Act remains to be seen, experts say. States are allowed to vary in their exchange requirements for insurers, which also will have to pay federally mandated fees and taxes, this article notes. "We will only participate in exchanges that we assess to be fair, commercially sustainable and provide a reasonable return on the capital they will require," says Stephen Hemsley, CEO of UnitedHealth Group, adding that the company expects to participate initially in 10 to 25 exchanges. Omaha World-Herald (Neb.)/The Associated Press (1/20) LinkedInFacebookTwitterEmail this Story
  • HHS releases final rules reflecting HIPAA changes
    A rule issued by the Department of Health and Human Services bans health insurers from considering patients' genetic information for underwriting purposes in most cases. The regulations, intended to reflect changes in the Health Insurance Portability and Accountability Act, also appear to include health insurance brokers and agents among those who must comply with some HIPAA privacy regulations, according to this article. The rule, which goes into effect March 26, also forbids hospitals and physicians from informing health insurers about treatments patients pay out-of-pocket, the article notes. National Underwriter Life & Health (1/18) LinkedInFacebookTwitterEmail this Story
  • Opinion: Life settlements can be an option if client's needs shift
    Financial advisers should re-evaluate clients' life insurance now that the 2013 estate-exclusion amount is more certain, write Robin Weinberger and Peter Katz of Life Insurance Settlements. They suggest reviewing changes in clients' financial circumstances such divorce, retirement or sales of illiquid assets that may indicate a need for less life insurance. In those cases, a life settlement that maximizes the policy's salvage value may be a better choice than surrendering a policy or allowing it to lapse, they write. National Underwriter Life & Health (1/18) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • Mapping the economy as Obama begins his second term
    President Barack Obama faces a different economic landscape than he did four years ago. This post features interactive maps that show state and local data that shape national economic indicators such as unemployment and median household income, and it looks at demographic trends and how they will affect the U.S. for the next four years. SmartBrief/SmartBlog on Finance (1/18) LinkedInFacebookTwitterEmail this Story

  • Mich. has new department to oversee insurance, financial services
    Michigan Gov. Rick Snyder has issued an executive order to create the Department of Insurance and Financial Services. The department will assume functions that had been handled by the Office of Financial and Insurance Regulation. Lori Conarton of the Insurance Institute of Michigan said she is hopeful that the department will help promote the industries it will regulate. "It's a high-wage industry, and we think that we can grow it and encourage more companies to come here," Conarton said. (Michigan) (free registration) (1/17) LinkedInFacebookTwitterEmail this Story
  Hot Topics 

Top five news stories selected by NAIFA SmartBrief readers in the past week.

  • Results based on number of times each story was clicked by readers.
  Building Your Business 
  • How to build strong annuity sales
    Annuity sales represent an excellent business opportunity for financial advisers willing to put in the hard work necessary to prosper, says Gary Wendell of Asset Preservation & Insurance Services. Among the 10 strategies considered essential by Wendell and other experts are having a detailed knowledge of annuity products, working with financially stable carriers, developing a clear understanding of clients' needs and taking time to earn clients' trust. National Underwriter Life & Health (1/18) LinkedInFacebookTwitterEmail this Story
  NAIFA News 
  • Now available -- the new NAIFA member benefits guide
    The New NAIFA Member Benefits Guide is a 20-page resource that includes valuable information on more than 50 professional programs and products designed to enhance your skills and knowledge of the industry, and provide value-added business services. NAIFA's member benefits help grow your business and protect your business, making NAIFA membership your best career investment. View the new guide. Copies are free. Visit the NAIFA Marketplace to order your copies today. LinkedInFacebookTwitterEmail this Story
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It is so difficult not to become vain about one's own good luck."
--Simone de Beauvoir,
French writer and philosopher

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