NAIC moves to close life settlement loophole

News

US regulators have moved to close a loophole in the life settlement market, which allows individuals to take out a life insurance policy with the express purpose of selling it on to a third-party investor in return for a cash sum - a practice that insurance companies insist distorts the market. But there may be other ways in which the wily investor can get around the new rules.

On 11 December, the National Association of Insurance Commissioners (NAIC) adopted a proposal from North Dakota Comm

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