INSURANCE

Prudential to Revamp Policy Sales Procedures: Prudential Insurance Co. of America said it is changing the way it sells policies to individuals in an attempt to polish an image tarnished by allegations that it has misled customers. The Newark, N.J.-based company, the largest U.S. life insurer, said salaried underwriters will be in direct contact with customers during the application process, a responsibility traditionally handled by field agents. The firm said customers will better understand the coverage they are buying. The move comes as federal and state regulators are investigating Prudential for alleged wrongdoing in the selling of life insurance. More than 30 states are looking into Prudential sales, and the company is discussing a settlement with regulators.