As America faces a pivotal moment to address systemic racism, the life insurance industry stands committed and ready to lead. Last week, I had the opportunity to speak with President and CEO George Nichols III of the American College of Financial Services. Nichols, a Kentucky native, became his state’s first Black American insurance commissioner in … Continue reading "Building Financial Security and Upward Mobility"
During the COVID-19 pandemic, health and financial security concerns have been front and center. And America’s life insurance companies have stepped up. From the earliest days of the crisis, life insurers have been providing invaluable support, paying out $2.1 billion every day, amplifying the $2.7 billion a day paid by Social Security. To keep the … Continue reading "Life Insurers Invest for America’s Future"
Every day, 10,000 Americans turn 65 years old. Those celebrants undoubtedly have as many different ideas about their retirement planning as they have birthday candles. Retirement planning needs vary. Fortunately, regulators and lawmakers are recognizing that. Case in point: the U.S. Department of Labor (DOL) has moved in the right direction toward a harmonized approach … Continue reading "Protection and Choices for Retirement Savers"
America’s life insurance companies have been #MeetingTheMoment for our nation since the COVID-19 pandemic hit our shores. From the earliest days of the crisis, life insurers have been providing invaluable support to their customers, their employees and their communities. Industry leaders are supporting government officials by listening to needs, organizing action, and showing compassion. At the … Continue reading "Life Insurers Meeting The Moment With Investment Capital"
[A version of this article appeared on LinkedIn] Our country faces a pivotal moment to address systemic injustices faced by African Americans that lead to economic disparities. Last month, I was invited by the U.S. Chamber of Commerce to represent the American Council of Life Insurers (ACLI) on a national steering committee to help develop an … Continue reading "Closing America’s Opportunity Gaps"
With all the turbulence and strife in recent months, we sure could use some soothing news. Cue up the Securities and Exchange Commission and its Regulation Best Interest (Reg BI). Reg BI takes effect tomorrow. Together with the National Association of Insurance Commissioners’ (NAIC) revised Suitability in Annuity Transactions Model Regulation, Reg BI will ensure financial professionals … Continue reading "Protecting Access for All Savers"
The volatility of the COVID-19 economy and its impact on the finances of millions of Americans has underscored the growing societal need for financial security. At the same time, the recent economic disruption has created budgetary shortfalls in many states, prompting lawmakers to consider new ways to cut expenses and raise revenues. Some of these … Continue reading "Colorado: Doing What’s Right For Retirement Savers"