administrative law judge in Florida today ruled that state insurance regulators were exceeding their authority in how much detail they were demanding from life settlement providers who submit annual reports on transactions.
The 18-page decision by Suzanne Hood, an administrative law judge with the Florida Division of Administrative Hearings in Tallahassee, is a victory for the [...]
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The U.S. Senate Special Committee on Aging has scheduled a hearing on life settlements for April 29.
The session, titled “Betting on Death in the Life Settlement Market - What’s at Stake for Seniors?” will be chaired by Sen. Herb Kohl, D-Wis. It will start at 2 p.m. East Coast time and will be webcast. The [...]
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One of the major life expectancy underwriters in the life settlements market, 21st Services, said yesterday that it will provide lifespan forecasts for the financial planning market.
The Minneapolis-based company said it’s developed a new product for clients of financial planners.
The new product, based on medical, health and lifestyle information provided by clients themselves, is significantly [...]
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Ohio insurance regulators have at least for now called off an extensive self-audit that was required of life settlement providers and brokers.
Instead, the Ohio Department of Insurance said today it will meet with settlement industry representatives to learn about their objections to the audit before it is reinstated.
“We got a lot of feedback from the [...]
A policy owner can keep on paying even though the policy is no longer of value due to changing personal circumstances. He or she could stop paying premiums and allow the policy to lapse. Or, the policy owner could sell the policy to an investor for an amount that is often much greater than its [...]
Continue reading about Can we sell our life insurance policy to a 3rd party
Hedge fund manager Ritchie Capital Management re-filed a lawsuit against Coventry First almost a year after dropping its original complaint against the provider.
Ritchie renewed its case against Fort Washington, Pa.,-based Coventry on Friday in U.S. District Court for the Southern District of New York, claiming breach of contract.
The hedge fund manager previously lodged a seven-count [...]
EMSI Revises Life Expectancy Mortality Tables
Examination Management Services Inc. (EMSI), one of the major life expectancy underwriters in the life settlement market, said it’s revised its mortality tables.
The firm is now the fourth underwriting company to make changes to its estimates in recent months. Life expectancy estimates are used to price policies on the secondary [...]
the chief executive of the Lifeline Program, an Atlanta-based provider, said his company is negotiating with a U.K.-based hedge fund to invest a “substantial” amount in life settlements.
William Scott Page, chief executive of Lifeline, said a confidentiality agreement with the hedge fund prevents him from naming it. Page said this will be the fund’s first [...]