The Life Settlements Report - July 15, 2010

An insurance company's edict that insurable interest is required on policy transfers violates long-standing legal precedent that underlies the life settlement market and probably will be challenged in court, according to legal experts. Full Story

Auctions Add to Tertiary Market Supply

There may be a wave of bank foreclosures and life settlement auctions that could supply the tertiary market as premium finance notes and other settlement loans come due, market advisers say. Full Story

The National Conference of Insurance Legislators (NCOIL) plans to begin drafting a new model act requiring insurers to tell consumers of their options, including life settlements, if they plan to get rid of their policies.

The sponsor of life settlement legislation in California that seeks to rein in the insurance department may drop his efforts now that the department is proposing rules that don't appear to overstep its authority, according to Ken Cooley, principal consultant to the Senate Banking, Finance & Insurance Committee.

• Sun Life Can't Rescind Policy and Keep Premiums, Court Says
• Lifemark Argues Insurable-Interest Question in Kramer Case
• Trinity Lawyer Trustee of New Settlements Company
• Meyer Sues Rumson Capital for Back Pay
• Financial Reform Act Impacts Mixed, ILMA Says
• NCOIL Forms Subcommittee for STATs
• Undercover Agent Used in Texas Investigation
• $1.25B Life Settlement Bond up For Sale
• Lifeline Acquires Georgia Provider's License
• A&O Trustee Plans to Sell Portfolio
• Fund Nets 66.41% over Six Years
• Invescor Goes out of Business
• FSA Reviewed Rockingham Annuity
• New Book Examines Life Settlements
• Hirings & Firings