Archive for August 2020
Prudential Insurance Company
Prudential 1994 0613 – APNews – Life Insurance Buyers Allege Misleading Sales Tactics Were Used With PM-Vanishing, by Mark Dennis – [link] 1996 0626 – LA Times – Prudential Told Staff to Destroy Documents, Memo Shows, by Scot J. Paltrow – [link] A spokeswoman for the New Jersey insurance department said the task force had…
Read More1994-2, NAIC Proceedings
1994-2 Mr. Wright said the working group might develop two alternative models, one with guarantees only, and one with projections of non-guaranteed elements in an understandable format. Mary Griffin (Consumers Union) asked about Section 2 and the phase “misrepresenting the benefits of the life insurance policy.” Mr. Coleman commented on the definition of illustration in…
Read MoreRange Approach
Range Approach 1988-2, NAIC Proceedings, 1988 0613 – ACLI – Statement on Behalf of the American Council of Life Insurance to the NAIC Market Conduct Surveillance (EX3) Task Force (Attachment 2) – 3p 1988 12 – SOA – Two Approaches to Life Insurance Cost Illustrations, Society of Actuaries – 4p 2017 10/15 or 19 -…
Read MoreLATF – Life Actuarial Task Force – (A) – NAIC
LATF – Life Actuarial Task Force – (A) – NAIC content.naic.org/committees/a/life-actuarial-tf 2023 0601 – NAIC – Life Actuarial (A) Task Force Rachel Hemphill / Pat Allison / Jennifer Frasier – Donna Claire, Linda Lankowski, Donna Megregian, Birny Birnbaum, Brian Bayerle, David Hippen, Fred Anderson, Laura Hanson, Mary Bahna-Nolan, Mike Boerner, Mike Yanacheak, Pete Weber, Purushotham, Teresa…
Read MoreGeorge Coleman
George Coleman I think you have to catch people’s attention, and that is all to the good. — George Coleman, Prudential, ACLI, TRG-Technical Resource Group for the NAIC (Industry Advisory Group – Illustrations) 1994 – SOA – Problems and Solutions for Product Illustrations, Society of Actuaries – 28p George Coleman of Prudential…not an actuary. He’s a lawyer……
Read MoreModeling
Modeling 1994 – SOA – Asset Modeling Concepts – Society of Actuaries – 38p Universal Life Modeling Example Funding Levels Universal life plans offer the policyholder great flexibility in their use of the plan — from a term plan to an investment vehicle. The funding level affects: 1. Universal life commissioners reserve valuation method reserves…
Read More1996-2, NAIC Proceedings
1996-2 LOCATE 1996-2 NAIC Proc. 646 -No Full Pay Required -Based on what Consumer Wants Q: 7.5 However, I believe that the regulation states that the premiums shown in the basic illustration must be those anticipated by the policyholder. How does this reconcile with the concept of having basic illustrations be full pay only? …
Read MoreSystems Science
Systems Science Complexity Science–an introduction and invitation for actuaries – Website – Society of Actuaries
Read MoreMark Dorfman
Mark Dorfman Thirty-one years ago, Mark S. Dorfman (1972) concluded that workable competition did not exist in the market for life insurance products because of industry marketing practices that tended to exacerbate the insurance consumer’s ignorance and the problem of information asymmetry inherent in the industry. Utterances by both industry representatives and industry critics suggest…
Read MoreGame Theory
Game Theory 1968 – PRICES AND PROFITS, JOHN M. BRAGG, Society of Actuaries 1980 – APPLICATIONS OF GAME THEORY TO THE INSURANCE BUSINESS, Society of Actuaries – 4p 1991 – AP – Cooperative Game Theory and its Insurance Applications, Jean Lemaire – 162p <Bonk: Have not read>
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