Life Settlement and Viatical Settlement News

A Denver District Court judge has issued a restraining order against Life Partners Inc. and Life Partners Holdings Inc., Colorado Securities Commissioner Fred Joseph said Wednesday.
Joseph filed a complaint on Wednesday alleging that the two entities were violating the registration, licensing and anti-fraud provisions of the Colorado Securities Act.
Judge Robert McGahey’s order temporarily prohibits the […]

Texas Alerts Agents About Investigation Into Nontraditional Product 
The Texas Department of Insurance issued an alert to agents and consumers concerning a nontraditional insurance product offering it is investigating. The bulletin advised Texas insurance agents to exercise caution with respect to the offering.
TDI said the nontraditional product is being offered in the Stranger-Owned Life Insurance (STOLI) […]

NEW YORK–(BUSINESS WIRE)–Legacy Benefits Corporation (New York), a recognized leader and innovator in the life settlements industry, has been granted a life settlement provider license in the state of Colorado, which recently enacted legislation regulating the field.
“The state had stringent requirements for granting licenses,” said Meir Eliav, President of Legacy Benefits. “Our approval testifies to […]

I found this little article while adding the latest news to Life Settlement News. I am waiting on more details, but it looks like ING will be getting into the premium financing market. This is good news for the Premium Finance Industry, anytime a large funding source jumps into the market, it really shows the […]

The Florida Office of Insurance Regulation issued a Notice and Order to Show Cause to Coventry First LLC alleging violations of the Florida Insurance Code and for “engaging in fraudulent or dishonest practices.”
Coventry First LLC, founded in 1999, engages in the purchase of life insurance policies of elderly individuals in exchange for cash payments.
Coventry First […]