Quest Diagnostics to Eliminate as Many as 600 Jobs – Bloomberg.
No word on the street yet how many of these cuts are from ExamOne.
Insurance News
Analysis: Battered India Insurers | Reuters
Aetna Laying Off 160 – Courant.com
Pru to Pay $615 million for Hartford Life Unit
Billions Wasted on Approved Bogus Disability Claims
In Oklahoma, the administrative law judge Howard O’Bryan, age 87, approved 5,401 disability claims from 2007 to 2009, committing taxpayers to $1.6 billion in expenditures. The investigation detected a “strange pattern” in which applicants denied for physical ailments would later successfully appeal listing their disability as “mental retardation.”
Layoffs Hit Lincoln Financial Again
Michael Arcaro, a spokesperson with the external communications division of the company, said the cuts were an effort to “enhance the strategic design of our organization.”
via Layoffs Hit Lincoln Financial Again – Concord, NH Patch.
Enhancing strategic design.
That’s a new one to me.
How a Lawyer Exploited the Fine Print and Found Himself Facing Federal Charges – ProPublica
ProPublica has taken a close look at the Caramadre case because it offers a window into a larger issue: The transformation of the life insurance industry away from its traditional business of insuring lives to peddling complex financial products. This shift has not been a smooth one. Particularly during the lead up to the financial crisis, companies wrote billions worth of contracts that now imperil their financial health.
In a series of detailed interviews, Caramadre said the companies designed the rules; all he did was exploit them. Their hunger for profits in a period of dizzying growth and competition, he contends, left them vulnerable to someone with his unusual acumen. The companies have argued in court that Caramadre is a fraud artist who should return every last dime he made. In his rulings to date, the federal judge hearing the civil cases has agreed with Caramadre’s contention that he was doing what the fine print allowed.
by Jake Bernstein
ProPublica, Aug. 24, 2012
Well written and well researched, this article is worth reading. An article from the Wall Street Journal in 2010 also makes for good reading and that link is below.
Investors Recruit Terminally Ill to Outwit Insurers on Annuities – WSJ.com.
BBC News – Aviva to cut up to 800
Maximizing Modest Legacies – LifeHealthPro
Maximizing Modest Legacies | LifeHealthPro.
Article on capital transfer solution strategies and repositioning assets.
401k Loan Gold – Employee Benefit News
401k loan gold seen on Capitol Hill – Articles – Employee Benefit News.
Pretty stiff content copyright on Reuters articles. I’ve provided the link but no quotes or frames. The article is worth reading.
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