Archive for January 2021
John Hancock / Manulife
John Hancock / Manulife Manulife 1997 1030 – GOV (Senate) – Class Action Lawsuits: Examining Victim Compensation and Attorneys’ Fees, Charles Grassley (R-IA) — [BonkNote] 2018 1004 – ThinkAdvisor – Muddy Waters Shorts Manulife on Risks in Universal Life Trial, By Erik Schatzker, Katherine Chiglinsky and Ivan Levingston – [link] Toronto-based Manulife is one of the biggest…
Read MoreLawsuits – Snippets
Legal Cases – Snippets Carriers marketed interest rate-sensitive insurance under a host of premium payment options, including the `vanishing premium’ plan. 2009 – LC – Kaldenbach v. Mutual of Omaha – Court of Appeals of California, Fourth District, Division Three. 78 Cal.App.4th 830 (2009) 100 Cal.Rptr.3d 637 – Google Scholar-Kaldenbach-2009 Reasonable Consumers Reasonable consumers acting…
Read MoreInsufficient Premium
Insufficient Premiums Premium Considerations The non-guaranteed premium concept can be utilized for all forms of nonparticipating insurance, including both term and permanent policies. In setting insurance premiums, the actuary can use pricing assumptions that are as realistic as possible. The actuary is not locked into “50 years” of insufficient premiums if his or her estimates…
Read MoreClaims Settlement
Claims Settlement The States do little with respect to life insurance regulations for many reasons, mainly because there are very few problems with complaints over claims. Most of the staffs are involved with complaints relating to automobile insurance and health insurance. Life insurance is sort of the stepchild of many, if not most, insurance departments. …
Read MoreABA – American Bar Association
ABA – American Bar Association ABE – American Bar Endowment – [link] 2015 1116 – ABA Journal – ABE and New York Life Celebrate 60-Year Partnership – [link] ABF – American Bar Foundation – [link] ABA Journal – [link] archive.org/details/pub_tort-trial-insurance-practice-law-journal National Conference of Lawyers and Life Insurance Companies Unauthorized Practice of Law 2021 Spring – ABA-Litigation – Demonstrative Evidence:…
Read MoreConsumer
Consumers Policyholder Most common citizens just don’t understand policy terms. You have to have faith,” said he to his commissioner. You have to have faith or trust that the agent is telling you the truth or explaining it correctly to you. 1993 0525 – GOV (Senate) – When Will Policyholders Be Given The Truth About Life…
Read MoreActuarial Soundness
Actuarial Soundness Mr. Koenig said the area where the working group could make the most impact was to set standards for the actuaries, to determine what is an actuarially sound illustration. 1994-3, NAIC Proceedings 1981 – SOA – Robin B. Leckie – Address of the President: Actuarial Soundness – 10p 2012 – AAA – Actuarial Soundness, A Public Polic…
Read MoreBailouts
Bailouts 1920s/1930s – Great Depression 1980s – Federal Reserve 1990s – Executive Life, etc. 1992 0721 – Federal Reserve Report on Economy 03:38:22 SEN. RIEGLE And the banks got into big trouble. Not just the ones under your supervision, but the ones under the supervision of other regulators. And last year, we had to…
Read More1970 – 1979
1970 – 1979 Government Hearings – 1970s Government Hearings – Snippets – 1970s 1975 – GOV – Veterans Life Insurance Information 1973/4 – GOV – The Life Insurance Industry NAIC Proceedings Newspapers – 1970s Society of Actuaries (SOA) – 1970s 1973 — GOV – The Life Insurance Industry – Senator Hart 1973 — SEC – VARIABLE LIFE INSURANCE AND THE PETITION…
Read MorePacific Life
Pacific Life John C. McCone (Board / CIA Director) Thomas S. Sutton Bill Hezzelwood 1991 0227, 0507, 0509 and 0523 – GOV (House) – Insurance Company Solvency, (CSPAN) Insurance Company Insolvencies, Cardiss Collins (D-IL) — [BonkNote] — [PDF-369p-GooglePlay, VIDEO-0509-CSPAN] NAIC IULSG With respect to guardrails, Pacific Life believes that it is critical that any proposed limit on the illustration…
Read More