Archive for July 2020
Technical Advisory Committee on Dynamic Interest and Related Matters – NAIC
Technical Advisory Committee on Dynamic Interest and Related Matters – NAIC The Technical Advisory Committee on Dynamic Interest and Related Matters was appointed by the former (C4) Technical Subcommittee in the spring of 1980
Read MoreInvestor Owned Life Insurance
Investor Owned Life Insurance For over 200 years there has been a requirement for an insurable interest before someone could purchase a life insurance policy on an insured. Conference of Insurance Legislatures (NCOIL) has adopted a resolution in opposition to the concept of investor owned life insurance. President George W. Bush and members of Congress…
Read MoreRider
Rider Ms. Krol asked about the use of the term “riders,” when some states use other terms. Mr. Musgrove agreed that the states do use different terms and pointed out that the survey document notes that riders, endorsements, agreements, etc. all mean about the same thing, and it is indicated in the survey that respondents…
Read MoreSNFL – Standard NonForfeiture Law
SNFL – Standard Nonforfeiture Law content.naic.org/sites/default/files/inline-files/MDL-808.pdf 1942-Supplement, NAIC Proceedings – Reports and Statements on Non-Forfeiture Benefits and Related Matters — [BonkNote] 1980 – SOA – Nonforfeiture and Valuation Concerns in the 1980’s, Society of Actuaries – 16p 1983 – SOA – Universal Life Valuation and NonForfeiture: A Generalized Model, by Shane A. Chalke and Michael Davlin, Society of…
Read MoreSpeed to Market
Speed to Market NAIC – Speed to Market Task Force GOV 2005-1, NAIC Proceedings – (2005 0315, p100) Individual Modified Single Premium Variable Life Policy Standards Individual Flexible Premium Variable Adjustable Life Policy Standards 2005-2, NAIC Proc. – (2005 0613) SPEED-TO-MARKET FILING TOOL SUGGESTION BOX Speed to market is the ability to bring products to…
Read MoreTrade Secrets
Trade Secrets Ms. Parachini indicated the Compact legislation already recognizes a trade secret protection for product filings and this rule allows a company to keep competitive information protected. Miriam Krol (ACLI) explained the Working Group developing the product standards is incorporating detailed submission requirements, many of which are actuarial in nature. These submissions may include…
Read MoreLife Disclosure Working Group – (A) – NAIC
Life Disclosure Working Group – (A) – NAIC The working group’s concern was how to bring about a change without damage to the market place. (p656) 1993-4, NAIC Proceedings – Life Disclosure Working Group – NAIC Google Search – 28 Results 1993-2003 – NAIC Proceedings 1993 0525 – GOV (Senate) – When Will Policyholders Be Given…
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