Insurance company fined $375,000 for improper sales to seniors      November 26, 2008
NEWS: The Minnesota Department of Commerce fined Physicians Mutual and Physicians Life Insurance Companies $375,000 for using deceptive sales practices and selling Medicare supplement plans, long term care insurance and annuities that were not suitable for Minnesota consumers. In addition, the company also agreed to a robust restitution plan including a suitability review process for handling complaints that will result in direct financial restitution for Minnesota consumers.

Auction Rate Securities investors reminded to contact firms about buyback offers      November 24, 2008
NEWS: As state securities regulators continue their efforts to assist investors who have had their funds frozen in the auction rate securities market, the Minnesota Department of Commerce today reminded auction rate securities investors of their redemption opportunities included in the settlements between securities regulators and several prominent Wall Street firms. Eleven of the largest firms have agreed in principle to repurchase more than $50 billion of auction rate securities.

Surplus Lines Insurance Association hires first Executive Director      November 17, 2008
NEWS: Nicholas Schroeder has been named the first Executive Director of the new Surplus Lines Association of Minnesota, a non-profit organization of brokers of insurance that is placed with companies that are not licensed in Minnesota.

Governor unveils "Green Jobs Investment Initiative"      November 10, 2008
NEWS: Using Minnesota's nation-leading energy initiatives as a springboard for job growth, Governor Tim Pawlenty today unveiled his "Green Jobs Investment Initiative" for the 2009 legislative session. The potential for job growth in green jobs is significant. According to a study released last month, 750,000 Americans work in what are considered green jobs. That number is expected to grow 4.2 million by 2038, accounting for 10 percent of new job growth over the next 30 years.

Governor announces Next Generation Energy grants to accelerate biofuel development      November 6, 2008
NEWS: Eight projects that will accelerate the development of renewable energy projects and advanced biofuels in Minnesota will receive nearly $3 million in state grants awarded by the Next Generation Energy Board. The projects include cellulosic ethanol production, an anaerobic digester technology for hog manure, and using turfgrass to produce electricity.