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May 30, 2012 at 09:19 AM
John Hancock Financial appointed Michael Doughty as executive vice president and general manager of U.S. Life Insurance effective immediately. Doughty replaces Steve Finch who has assumed the role of chief financial officer for John Hancock.
Before joining John Hancock, Doughty was executive vice president of Individual Insurance for Manulife’s Canadian division. He was responsible for Manulife’s life and living benefits products in Canada as well as the Affinity Markets business, which includes life, health, accident, travel and disability insurance.
Previously, he was senior vice president of Individual Insurance and had been senior vice president of Group Savings & Retirement Solutions. Doughty, who joined Manulife in 1992, has held a number of senior marketing positions in both Canadian and corporate operations.
In other industry news:
Nationwide Financial, Columbus, Ohio, has developed a new 408(b)(2) Solutions Kit to help retirement plan advisors address these client concerns and adapt to the new Department of Labor (DOL) fee disclosure regulations taking effect July 1.
The kit, created specifically for retirement plan advisors, includes:
- A solutions guide that outlines the different tools and services Nationwide provides for use with plan sponsors to help them understand and comply with the new requirements.
- A summary of the specific requirements as outlined by the DOL, along with a summary to help plan fiduciaries understand their responsibilities for reviewing the reasonableness of the fees paid to service providers.
- A handbook with pointers advisors can use in conversations with plan sponsors to clearly explain the services they provide that add value to their retirement plan.
Nationwide will also provide regular updates to retirement plan advisors on its 408(b)(2) resources via emails and conference calls.
Life Insurance Settlement Association elected new board members. New Directors elected for a two-year term include:
- Alan Buerger, CEO, Coventry First LLC;
- Nate Evans, president and CEO, Maple Life Financial Inc.;
- Mike Fasano, president, Fasano Associates ;
- Vince Granieri, CFO and Actuary, 21st Services ;
- Phil Loy, co-founder, AVS Underwriting LLC ;
- Paul Siegert, chairman and president, GWG Life Settlements LLC.
The six newly elected directors join the following five members to comprise the 11-member board:
- Adam Balinsky, managing member, Jabrem Consulting LLC;
- Brian Casey, partner, Locke Lord LLP;
- Rob Haynie, managing director, Life Insurance Settlements Inc.;
- Jim Maxson, partner, Morris Manning & Martin LLP;
- Jon Mendelsohn, president and CEO, Ashar Group LLC.
Buerger was elected chairman along with officers: Paul Siegert, vice chairman; Phil Loy, treasurer; and Brian Casey, secretary. Darwin Bayston serves as president and CEO.
Buerger also announced that the Chairman of the External Affairs Committee will be Bryan Freeman, Habersham Funding LLC. Other members of the committee will be Michael Freedman and Nate Evans.
Cigna and the Granite Healthcare Network, a partnership among five independent charitable health care organizations in New Hampshire, have launched a collaborative accountable care initiative to expand patient access to health care, improve care coordination, and achieve improved health outcomes, lower total medical costs and increased patient satisfaction. Collaborative accountable care is Cigna’s approach to accomplishing the same population health goals as accountable care organizations, or ACOs.
