Law360, New York (September 24, 2009) -- State and federal regulators warned lawmakers Thursday that life settlements — financial products that allow people to cash in on their life insurance policies by selling them to a third party — need more scrutiny.
The so-called stranger-owned life insurance, or STOLI, transactions run afoul of state laws because "there is no true insurable interest present at the time of policy issuance," Iowa Insurance Commissioner...
