Federal judge overturns Texas' bank annuity rules
Article Abstract:
US District Court Judge James R. Nowlin overturns a Texas insurance law which states that only insurance agents are licensed to sell annuities since they are categorized as insurance products. Nowlin emphasized that the state statute is pre-empted by federal banking law and that annuities are actually investment products, hence, making banks fully entitled to sell them. The ruling was in favor of the Texas Bankers Assn and Broadway National Bank of San Antonio against the insurance department and Commissioner Elton Bomer.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1997
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Mentors turn trainees into loyal superagents
Article Abstract:
Insurance agencies can increase their agent retention rates by establishing a mentor program. Such a program must provide benefits for both the trainee and the mentor. The mentor program increases loyalty by letting new agents gain confidence and technical knowledge. Additionally, insurance agencies that have mentor programs may find recruiting for new agents to be an easier task. Creative Financial Group is one agency that has succeeded in creating a mentor program.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1995
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Sea change ahead for Japan
Article Abstract:
Among the changes mandated by reforms in Japan's Insurance Business Law are allowances for property/casualty insurance companies to establish life insurance subsidiaries and vice-versa. Financial services companies are also required to manage for solvency and cash flow testing instead of solely for market share. The Japanese pension market was likewise affected by the reforms with assets under foreign management increasing at a 50% rate annually.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1997
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