SAP – Statutory Accounting Principles SAP, SSAP 1987 – SOA – Valuation Actuary Handbook – Chapter I – Insurance Company Statutory Valuation, Society of Actuaries – 34p The NYDFS recognizes only statutory accounting practices (“SAP”) prescribed or permitted by the State of New York for determining and reporting the financial condition and results of operations…

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Silences govinfo.gov – Search – “Life Insurance” GAP 1982 0310 – GOV (House) – Part 2 – Department of Housing and Urban Development–independent agencies appropriations for 1982. Veterans Administration. 1993 0202 – GOV (House) – Management of Department of the Interior Programs, Serial No. 103-2  Senator Jake Garn – 1980s Nonbank ,Integration of Financial Services…

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Distribution The unbundling of manufacturing and distribution: The modern life insurance industry started with bundled manufacturing and distribution, the latter being characterized by controlled, exclusively aligned career sales forces. We then witnessed three sequential shifts: The disenfranchisement of the industry’s career sales forces Re-aggregation of individuals previously comprising those sales forces into stand-alone marketing entities…

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Finding Aids Actuarial soa.org/ Federal Government Hearings c-span.org/ Google Play govinfo.gov COP – No Finding Aid Availabe FCIC – Finding Aid for the Records of the Financial Crisis Inquiry Commission

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Nonbank Financial Conglomerate Nonbank Banks Nonbank Financial Companies sechistorical.org/museum/galleries/mec/mec05b_modernization_nonbank.php According to the Dodd-Frank Act, nonbank financial companies are domestic companies or foreign companies that predominantly are engaged in financial activities (such as insurance companies, consumer finance providers, commercial lenders, asset managers, and investment funds) but that are not bank holding companies or certain other types…

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Mass Lapse 2016 – IAIS – Risk-based Global Insurance Capital Standard Version 1.0 Disintermediation Run – Triggers Legal Case – Fairbanks v Farmers Survey – 50% Unfortunately, some offices issued these contracts with a cash value of something approaching the total single premium guaranteed at any time. Interest rates rose, competitors offered better terms, and…

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Surrender Cash Surrender Values Lapse vs Surrender Surrender Values 2013 – AP – An Empirical Analysis of Life Insurance Policy Surrender Activity, by David T. Russell, Stephen G. Fier, James M. Carson, and Randy E. Dumm – 23p 1877 0723 – New York Senate – Testimony Taken Before the Senate Committee on Charges Against De…

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FIO – The Federal Insurance Office’s Report on Modernizing Insurance Regulation 2014 0204 – GOV – The Federal Insurance Office’s Report on Modernizing Insurance Regulation – [PDF-277p, VIDEO-YOUTUBE] 2013 – DOT / FIO – How To Modernize And Improve The System Of Insurance Regulation In The United States – 71p Public Input regulations.gov/document/TREAS-DO-2011-0010-0001 regulations.gov/document/TREAS-DO-2011-0010-0001/comment 2014 0214…

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2015 0929 – GOV (House) – The Impact of Domestic Regulatory Standards on the U.S. Insurance Market 2015 0929 – GOV (House) – The Impact of Domestic Regulatory Standards on the U.S. Insurance Market, Blaine Luetkemeyer (R-MO)  —  [BonkNote] [PDF-152p, VIDEO-CSPAN] docs.house.gov/Committee/Calendar/ByEvent.aspx?EventID=104019 House – Finance – Subcommittee Housing, Community Development and Insurance AAA – American…

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Information Sharing (p20) / 01:00:00 – I heard the consistency on the panel that there is no call here for a new regulator or super regulator to take the place, but rather someone to connect the dots. [PDF-254p, VIDEO-YouTube-Part 1of2 —  Steve Bartlett, President and Chief Executive Officer, The Financial Services Roundtable 2009 0305 -…

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