Archive for March, 2010
Former Mutual Benefits Lobbyist Is Working for Madoff Investors
Former Mutual Benefits Corp. lobbyist Russ Klenet is now lobbying Congress to help Bernie Madoff’s i…
Life Partners Expects 5% Net Income Increase
Publicly traded Life Partners Holdings said today it expects to report net income of $28.4 million, …
Amended Maine Bill Passes House of Representatives
The Maine House of Representatives today passed a bill that had been amended by the state Senate to …
Disclosure Revisions Dropped From Maine Bill
Language that would have limited consumer notification about life settlements in Maine was stricken …
Judge Orders $5.4M Restitution in Life Settlement Fraud
Promoters of a life settlement investment scheme were ordered by an Ada County District Court judge …
A.M. Best May Assess Servicers
Insurance rating agency A.M. Best may assess servicers who track insureds, pay premiums, and file fo…
New York Insurance Department Proposes Emergency Rules
The New York Insurance Department issued a draft of emergency rules it’s proposing to implement the …
ILMA Prepares Tertiary Transaction Documents
The Institutional Life Markets Association (ILMA), the trade group representing institutional invest…
American Settlement Associates Assets Frozen Amid Fraud Allegations
A federal court in Houston froze the assets of American Settlement Associates and appointed a receiv…
KBC to Auction Portfolio, Notes with $1.74B in Total Face Value
KBC Financial Products will auction off a portfolio of life settlement policies with net death benef…