March 2021 – Page 10

Ghana Universal Life products continue to be the main product line within the Life sector. https://nicgh.org/wp-content/uploads/2020/10/2019-NIC-Annual-Report.pdf

Australia actuaries.asn.au/Library/Education/Research/Transactions/1991/tiaa1990.pdf AJAP – The Australian Journal of Actuarial Practice 2015 – AJAP, Australian Journal of Actuarial Practice, Volume 3 – 120p (p71-91) – Repercussions: The Impact of the AIG Bailout on it’s Insurance Subsidiaries by Shauna Ferris APRA – Australian Prudential Regulation Authority Prudential apra.gov.au ASIC – Australian Securities and Investments Commission Market Conduct asic.gov.au/…

UK – United Kingdom UK – Parliament which.co.uk – Consumers Association 2004 05 – Consumers Association to Parliament – [link] 38. Life insurance products are particularly problematic. HM Treasury gov.uk/government/organisations/hm-treasury 2023 – – Introducing an Insurer Resolution Regime: Government Response to Consultation gov.uk/government/consultations/insurer-resolution-regime-consultation 1981 12 – SOA – Universal Life in the U.K.?, by Seamus…

Net Amount at Risk (NAAR) ALSO KNOWN AS: Sum at Risk Company Insurance Value – CIV – (Elizur Wright) Term Insurance

WorldBank worldbank.org/en/home International Bank for Reconstruction and Development In contrast, many of the investment-oriented products marketed in the last decade have shorter duration and require greater liquidity than was needed in earlier … 1992 – World Bank – The Life Insurance Industry in the United States: An Analysis of Economic and Regulatory Issues, Kenneth M. Wright – 54p…

G20 g20.org/ G20 FCP Principles

NAIC – IAIS International Insurance Relations (G) Committee – NAIC ComFrame Development and Analysis (G) Working Group – NAIC – (disbanded) 138. Some supervisors publish conduct-related information that can help to mitigate risks to consumers. Example from the United States: Consumer Information and Education The National Association of Insurance Commissioners (NAIC) provides a variety of…

Fairness Now we want to make sure that the consumers are treated fairly and reasonably and have sufficient information upon which to make a decision. (p318) — James P. Corcoran. , Superintendent of Insurance, State of New York 1984 – {April 11, May 3, 10, June 28, September 13} – GOV – Competition in the…

Policyholder Behavior IAIS Question 83: NAIC Response: Lapse risk is an example of an overall important category of policyholder behavior, which is an important risk in a number of products such as universal life and variable annuities. (p11) 2015 0213 – IAIS – IAIS Insurance Capital Standard Public Consultation Document – Final NAIC comments –…

Policy Loans Loans LIRP – Life Insurance Retirement Plan Chris H. McElvaine: …I heard another policyholder at the annual meeting mention that he has taken advantage of his 6% policy loan provision. He has reinvested that money with the same company in an RRSP five-year interest certificate bearing a phenomenal rate of interest. Apparently he…