After Symetra Financial Corp. was formed in 2004, the life insurer set up shop in a 25-story glass tower outside Seattle, put its name on the building and pushed the state to adopt more favorable rules for its business.
The package arrived at Cindy Lohman’s home in Great Mills, Maryland, just two weeks after she learned that her son, Ryan, a 24-year-old Army sergeant, had been killed by a bomb in Afghanistan. It was a thick, 9-inch-by- 12-inch envelope from Prudential Financial Inc ., which handles life insurance for the Department of Veterans Affairs.
Eric Kolchinsky, the former Moody’s Investors Service analyst who told Congress the ratings company cared more about money than accuracy, was hired by the National Association of Insurance Commissioners.
Insurance watchdogs must make sure life insurance beneficiaries are better aware of their options for collecting proceeds from so-called retained-asset accounts, the leader of a group of regulators said today.