COI – Cost of Insurance 2019 0917 – LIIIWG – Life Insurance Illustrations Issues Working Group – (A) – NAIC – COI – Cost of Insurance  —  [BonkNote] 2019 – ACLI – Cost of Insurance in the News – 16p Until the buyer understands how the product works, attempts to compare price are essentially meaningless. 1972 – SOA…

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Pricing It’s tough to price in a very disciplined way when any fly-by-night company can come by and undercut you. Somebody could take a flier and come out with a product with a low rate and if it works out they benefit, if it doesn’t work out we pay the cost. —  Michael Davlin 1985 -…

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Disintermediation Run …disintermediation:  That is, the decline of the life insurance industry as a savings medium. Disintermediation occurs: through lapsation, increasing policy loan utilization, the continuing shift towards term insurance as well as a wave of product replacements within the industry itself. It also occurs with a substantial opportunity cost as new savings dollars are…

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FSB – Financial Stability Board fsb.org/ youtube.com/user/FinStbBoard The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established after the G20 London summit in April 2009 as a successor to the Financial Stability Forum (FSF). The Board includes all G20 major economies, FSF members, and the European Commission. Hosted and funded…

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Congress Informed Policymakers 1987 0421, 0428, and 0429 – GOV (House) – Current State of the Liability Insurance Crisis [PDF- 313p-GooglePlay, VIDEO-?] Chairman LAFALCE. The insurance industry did not like that, and therefore they got enough Members of Congress to support their position. Mr. OLIVER (Chairman of the FTC) – I think that is correct.…

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Nonguaranteed Premium (Policy) 3. What considerations (including state requirements) are involved in setting the premium rates? a. At issue-maximum and illustrated premiums. 1980 – SOA – Nonparticipating Life Products with Nonguaranteed Premiums (rsa80v6n22), Society of Actuaries – 18p Nonguaranteed Premium Policies Cash values and death benefits under these policies are guaranteed, but their premiums are…

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NAIC – Framework NAIC – Groups – Life Insurance A Committee “Market Conduct Surveillance” – 75r MARKET CONDUCT, EXAMINATION AND REPORTING (B)  COMMITTEE Market Conduct and Trade Practices (B1) Subcommittee This Subcommittee is responsible for (a) overseeing the NAIC complaint system … 1980-2 Agents and Brokers (B2) Subcommittee. Competition (B 3) Subcommittee (B3) Subcommittee Competition…

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Surveys Paul Graham, ACLI, stated that the NAIC should condition a survey to determine the impact on the industry. He said he would be willing to assist the NAIC in developing and distributing such a survey, and suggested the NAIC hire an independent consultant to accumulate the results. 2010-1, NAIC Proceedings – Principles-Based Reserving (EX)…

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Principle-Based Reserving (PBR) REPORT ON THE RESULTS OF THE PRINCIPLE-BASED RESERVING  STATE RESOURCE SURVEY Presented to the Principle-Based Reserving Implementation (EX) Task Force of the National Association of Insurance Commissioners NAIC Spring National Meeting Houston, TX April 6, 2013

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Subgroup on Life Advertising Issues – (EX3) – NAIC Subgroup on Life Insurance and Annuities, 1987-2 1987-2, NAIC Proceedings – Market Conduct Surveillance (EX3) Task Force – April 12-13, 1987 1. Report of Subgroup on Life Insurance and Annuities The report of the Subgroup on Life lnsurance and Annuities was given by Tony Schrader. Mr.…

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