The Life Settlements Report - June 7, 2007

Insurance Commissioners to Promote New Law at State Legislatures

Controversial revisions to the viatical settlements model act aimed at stopping stranger-originated life insurance (STOLI) were overwhelmingly adopted by the National Association of Insurance Commissioners (NAIC) June 4. Full Story

Coventry First Resigns Under Pressure from Providers’ Group

Two directors of the Life Insurance Settlement Association (LISA) failed to win re-election to the trade group’s board after their companies were accused by Florida regulators of accepting improper fees. Full Story

State Says Provider Failed to Disclose Risks to Investors

A Denver judge issued a temporary restraining order barring Life Partners from selling fractional interests in viaticals and life settlements in Colorado after the state’s securities commissioner accused the Waco, Texas, company of fraud. Full Story

• Secondary Life Looking for Portfolio Buyers
• Illinois Provider Sues British Law Firm Alleging Fraud
• Coventry Gets Extension on Florida Case
• Life Insurance Finance Group Expands Membership
• Former Insurance Executive Joins American Life Insurance Congress
• North Dakota Legislator Seeks Opinion On Secrecy Issue
• Peach Holdings Hires New Executive