The US Attorney’s Office has settled the case of the American-Amicable Life Insurance Company of Texas, which, along with its affiliates, had represented expensive insurance policies as savings plans to tens of thousands of new military recruits. The settlement calls for the company to make cash payments totaling $10 million to 57,000 military members and provide increased value—a total of $60 million—in policies for another 53,000 military and non-military individuals. And, the company cannot sell insurance on military facilities for five years.
When Defense Secretary Pete Hegseth rolled out an expansive acquisition reform agenda earlier this month, he promised aggressive implementation and reorganization aimed at transforming the way the Pentagon develops and fields weapons and platforms. The plan appears to have been well-received by past administration officials and lawmakers from both parties who…
