RJ and Makay

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The Securities and Exchange Commission (SEC) is considering industry demands to exempt insurance companies from the Volcker rule, a provision spawned by the Dodd-Frank Act that prohibits financial institutions from certain types of speculative investing.  Insurers may face severe financial stress unless the exemption is granted, according to industry trade associations.

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Many U.S. insurance industry executives believe that business conditions in the sector have deteriorated compared to a year ago.  Faced with ongoing economic weakness and a stiffer regulatory environment, executives remain guarded about company performance and the industry’s ability to generate underwriting profit, according to a recent annual KPMG LLP survey conducted at its annual insurance industry conference.

Single parents with children at home are the largest group in the U.S. without life insurance, even though they need it most, suggests a new survey by Genworth Financial.

The survey, which included more than 23,000 U.S. adults and took 15 months to complete, found that 69% of single parents with children living at home don't have life insurance. Among single parents with children in or out of the house and married parents with children at home, 59% and 45%, respectively, said they had no life insurance.