Survey: Low interest rates continue to be a top concern for life insurers Low interest rates were cited as the life insurance industry’s most significant source of risk by 54% of attendees polled at Standard & Poor’s annual insurance conference. But the industry should be in good shape as long…
FINRA: Carelessness leaves firms vulnerable to cyberattacks Reckless and sloppy security procedures used by financial advisers, brokers and other staffers are creating opportunities for hackers that even the most cutting-edge technology can’t prevent, according to the Financial Industry Regulatory Authority. The regulator says some companies store passwords in folders marked…
How clients really define risk Most academics and financial-services professionals define risk as “volatility or unpredictability of returns,” notes Richard Bernstein. But just about everyone else defines risk “not as volatility, but rather as the probability of losing money.” The distinction can be important. WealthManagement.com (U.S.) (6/2)
Former Conn. insurance regulator to serve as a Fed senior adviser The Federal Reserve has appointed former Connecticut Insurance Commissioner Tom Sullivan as its senior insurance adviser. Sullivan, who will take his post Monday, will act a representative for the Fed at insurance forums in the U.S. and abroad. PropertyCasualty360…
Commentary: Annuities can provide benefits for long-term care Innovative new products have made it possible to arrange protection for what could be major medical bills in old age without taking on a long-term-care insurance policy, writes financial planner Joe Psalmonds. “Many insurance companies offer life insurance policies that pay LTC…
Study: “Lifestyle management” will be a growth area for advisers The number of people at or near retirement combined with the likelihood they will live longer means they need advice on more than how to spend a nest egg, experts say. “I’m seeing the day when clients rely on their…
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