Archive for June 2020
Securities and Insurance Regulation Task Force – (EX) – NAIC
Securities and Insurance Regulation Task Force – (EX) – NAIC 1981-1988 1988-2, NAIC Proceedings – (p72) – EX – Integrated Financial Services (EX) Task Force and the Securities and Insurance Regulation (EX) Task Force were consolidated. The new task force will be entitled the Financial Services and Insurance Regulation (EX) Task Force. 1982-1, NAIC Proceedings…
Read MoreUniversal Life and Related Plans of Life Insurance and Annuities – NAIC
Universal Life and Related Plans of Life Insurance and Annuities – NAIC Ill. FUNDED PLANS OF LIFE INSURANCE (UNIVERSAL LIFE) AND ANNUITIES (LATER CHANGED TO UNIVERSAL LIFE AND RELATED PLANS OF LIFE INSURANCE AND ANNUITIES) A. General Features The Technical Staff Actuarial Group discussed the appropriateness of the name given to this topic on the…
Read More1983-1, NAIC Proceedings
1983-1 As you know, revolutionary changes are taking place in the life insurance business. To a large extent, these changes have passed regulators by, and have left the regulators in a position of trying to catch up. — J. Alan Lauer – Deputy Insurance Commissioner 1983-1, NAIC Proceedings Task Force on Valuation and Nonforfeiture…
Read MoreVariable Life Insurance Task Force – NAIC
Variable Life Insurance Task Force – NAIC In December 1981 the NAIC created a special Variable Life Insurance Task Force, which also reports to the Life Insurance(A) Committee. There is a Variable Products Advisory Committee, which reports directly to the group. Jerome S. Golden, of Monarch Resources Inc., in New York, New York, is the…
Read MoreRichard Weber
Richard Weber ethicaledgeconsulting.com/ dick-webers-presentations/ NAIC Consumer Rep Merrill Lynch completemarkets.com/article/article-post/2437/%E2%80%98stop-the-world-i-want-to-get-off-%E2%80%99/ Executive Life, 1980s LC – Walker v LSW 2023 0321 – NAIC/Consumer Liaison Committee – 6p (p3-4) – Richard Weber (Life Insurance Consumer Advocacy Center—LICAC) 5. Heard a Presentation Calling Attention to the Dilemma of Current Assumption Policy Illustrations Weber provided some simple graphic views…
Read MoreLanguage
Language Semantics Words and Concepts Insurance policies may be balm for the afflicted but they are murder on the English language. 1976 0811 – NYT – New Policy Arises In Insurance Field Readable Language, By Israel Shenker – [link] We cannot play word games with policyholder money. (p74) — Karl L. Rubenstein, Special Deputy Insurance Commissioner, State…
Read MoreThe Actuary – Illustrations
The Actuary – Illustrations 1988 The Actuary Illustrations a Call to Action Daphne Bartlett
Read MoreVanishing Premium
Vanishing Premium Vanishing Premium – Legal Cases Robert Beck, Prudential, Chairman and Chief Executive Office RE: Vanishing Premium (p6069) – Under some permanent insurance, contracts being sold today, the chances are you could stop paying after 7, 8, or 9 years and the insurance would remain in force for the rest of your life without…
Read MoreManipulation
Manipulation Manipulation, Lapsation, Dividend Practices and Annuity Disclosure (A) Task Force 1981 – DETECTING POSSIBLE MANIPULATION: THE PEER REVIEW APPROACH – SOA – Moderator: JULIUS VOGEL. Panelist: WALTER N. MILLER – 12p Ms. Edwards requested the wishes of the subcommittee as to whether the task force should address the question of manipulation with inforce policies. Upon…
Read MoreCFA – Consumer Federation of America
CFA – Consumer Federation of America consumerfed.org/ Formerly NICO – National Insurance Consumer Organization Insurance is not a product like a can of peas. (p23) — J. Robert Hunter, Director of Insurance, Consumer Federation of America 2003 1022 – GOV (Senate) – Federal Involvement in the Regulation of the Insurance Industry, (CSPAN) – Insurance Industry Regulation, John McCain (R-AZ) 3. Heard a…
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