Senator Warren says insurance industry ‘kickbacks’ are costing retirement savers billions

A new report portrays the insurance industry as rife with conflicts of interest that reward financial professionals with lavish trips and other perks for promoting high-fee retirement products that can cost savers billions of dollars.

Sen. Elizabeth Warren (D., Mass.), a frequent critic of financial services practices, says the results of a study her office conducted on the insurance industry highlight the need for stricter regulations on sales agent behavior. Especially the report…