This BrokerPro blog is a service to the insurance brokerage community from the professional liability group at NYMAGIC® and its partner, Spirit Underwriters, Inc. It provides information to insurance sales professionals.
A controversial, but rapidly growing practice in which senior citizens raise cash by selling their life insurance policies to investors who will profit when they die could soon be subject to more government scrutiny.
Life insurance policyholders have filed numerous lawsuits against insurance agents, accusing them of selling policies which did not increase in value as expected and were not sellable...
As part of NYMAGIC®'s commitment to customer service, we maintain this blog with posts relevant to broker-dealers, registered representatives, investment advisors and other financial professionals. FinRep is a product the professional liability group at NYMAGIC®.
Finra arbitration filings were up 43% in 2009, lead by breach of fiduciary duty claims.
FINRA has put out a guide to compliance requirements and potential liabilities when using the Internet and electronic communications.