Estimated reading time: 0 minutes, 21 seconds

The New York Department of Financial Services has fined six U.S. life insurers $1.83 million for recommending that their clients switch their annuities for other products that generated less income. So reports Reuters.

Companion Life Insurance Co. and Penn Mutual Life Insurance Company received the largest fines as a result of the regulator alleging that the companies didn’t comply with best interest requirements.

Click here to read the full article from Reuters.

Last modified on Saturday, 12 October 2019
Read 216 times
Rate this item
(0 votes)

Visit other PMG Sites:

Template Settings


For each color, the params below will give default values
Tomato Green Blue Cyan Dark_Red Dark_Blue


Background Color
Text Color


Background Color


Select menu
Google Font
Body Font-size
Body Font-family
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline