New York Launches Probe Of Life Insurance Industry

 

The attorney general's office is investigating whether insurers are profiting off of grieving families by placing funds from life insurance policies into potentially risky accounts that they control. Andrew Cuomo said his office had served subpoenas on Prudential Financial Inc. and MetLife Inc. as part of the probe.» E-Mail This     » Add to Del.icio.us

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  • AP - New York Attorney General Andrew Cuomo says his office has opened a fraud investigation into the life insurance industry.

  • Reuters - New York Attorney General Andrew Cuomo has subpoenaed six additional insurers as the state widens a probe into possible fraud in the life insurance industry.

  • Life insurance companies boost their bottom lines by holding on to death benefits owed to families of service members and millions of other Americans, an investigation by Bloomberg Markets Magazine found. Cindy Lohman, whose son was killed in Afghanistan, says she feels betrayed by Prudential, his life insurance company.

  • New York's attorney general said on Thursday he had subpoenaed MetLife Inc and Prudential Financial Inc as part of an investigation into whether life insurers defrauded grieving military families out of hundreds of millions of dollars.

  • One insurance expert says the way life insurance companies use retained-asset accounts is atrocious. Insurance expert Jeffrey Stempel offers his insight. » E-Mail This     » Add to Del.icio.us

  • The U.S. insurance giant AIG is still trying to sell its Asian life insurance unit. AIG says the sale would be a major step toward paying back the federal government for at least part of the huge bailout it received. The British financial services company Prudential had agreed to a $35 billion deal but was forced back to negotiations after investors balked at the price tag.

  • American International Group is selling an overseas life and health insurance unit for $15.5 billion to MetLife as it continues to shed assets to repay billions in government aid.» E-Mail This     » Add to Del.icio.us

  • State Attorney General Andrew Cuomo said Thursday that he had opened a fraud investigation into how life insurers pay out benefits after policyholders die.

  • The social networking Web site Tagged.com has adopted reforms after being accused of essentially stealing the e-mail addresses of some 60 million Internet users, New York Attorney General Andrew Cuomo said. Cuomo had said the e-mail addresses in members' contact lists were used to send out more solicitation e-mails.

  • New York's attorney general has filed an antitrust lawsuit against Intel Corp., claiming the company used "illegal threats and collusion" to dominate the marketplace for computer microprocessors. Attorney General Andrew Cuomo claims the computer chip maker paid billions of dollars in kickbacks to computer manufacturers.

 
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