Archive for July 2021
Premium – Actuarial
Premium – Actuarial – Universal Life The complications begin with a very simple question: What’s the premium for Universal Life? It could be almost anything. Then what’s the cash value? That depends on the premium. It is the relationship between the premium and cash value that determines the product characteristics of Universal Life. — Ben…
Read MoreHeroes Sandbox
Heroes Sandbox Consolidated Appropriations Act 2021 Congress added cash value accumulation standards for life insurance policies to the Internal Revenue Code in an effort to keep people from calling ordinary investment arrangements life insurance policies. https://www.thinkadvisor.com/2020/12/22/cca-2021-package-includes-life-insurance-interest-rate-provision/ Representatives from the American Council of Life Insurers said that, if the Heroes Act interest rate rules took effect, the…
Read MoreIIPRC – Insurance Compact
IIPRC – Insurance Compact IIPRC – Interstate Insurance Product Regulation Commission – Insurance Compact NCOIL collaborated with the NAIC and the NCSL to develop a successful Interstate Insurance Product Regulation Compact, IPRC, a speed to market vehicle for life insurance products now in force in 41 jurisdictions. 2011 0728 and 1025 – GOV (House) -…
Read MoreQ: What Life Insurance Products Need More Regulation Than Others?
Do Some Life Insurance Products Need More Regulation Than Others? 2016 0403 – LIIIWG CC, NAIC Proceedings <Mr. Lovendusky – ACLI> said the ACLI work group thinks that most confusion for consumers involves complex products like universal life, and not Simple products like term life. He said consumers are mostly confused about options, guarantees and…
Read MoreMRCAC – Market Regulation and Consumer Affairs Committee – NAIC
MRCAC – Market Regulation and Consumer Affairs Committee – D – NAIC 2020 1208 – MRCAC – Market Regulation and Consumer Affairs (D) Committee – 15p 2021 0413 – MRCAC – Market Regulation and Consumer Affairs (D) Committee – Virtual – 2021 Spring National Meeting – 61p Birny Birnbaum (Center for Economic Justice—CEJ) stated that…
Read MoreConduct – Index
Conduct – Index ABCDEFGHIJKLMNOPQRSTUVWXYZ C Conduct – Index Back to top I ICP 19 – Conduct of Business (COB) – IAIS Back to top M Market Conduct Market Conduct Regulation vs Solvency Regulation Market Conduct – Documents Back to top P Premiums, Costs, Values and Benefits – Market Conduct Back to top Q Q: What…
Read MoreFSOC – Financial Stability Oversight Council – Index
FSOC – Financial Stability Oversight Council – Index FSOC – Financial Stability Oversight Council ABCDEFGHIJKLMNOPQRSTUVWXYZ# A Adam Hamm Back to top B Bank Holding Company Act of 1956 Back to top D Daniel Schwarcz Back to top E Eyes Back to top F FSOC – Activities FSOC – AIG FSOC – Annual Reports FSOC –…
Read MoreBills – Index
Bills – Index ABCDEFGHIJKLMNOPQRSTUVWXYZ# B Bank Holding Company Act of 1956 Business of Insurance Regulatory Reform Act Back to top C CFMA – Commodity Futures Modernization Act Collins Amendment Consolidated Appropriations Act 2021 CRA – Community Reinvestment Act Back to top D DEFRA Dodd-Frank Act DOL – Fiduciary Rule Back to top E ERISA –…
Read MoreActivities Based Approach
Activities Based Approach FSOC, Woodall, MetLife, Congress 44. If the public becomes concerned about the viability of a particular business model or widely-held asset class, insurers could collectively be forced to liquidate assets in a stressed environment to meet the resulting withdrawals, termination of short-term funding arrangements or collateral/margin calls. 2017 1208 – IAIS -…
Read More2008 Financial Crisis – Goldman Sachs
2008 Financial Crisis – Goldman Sachs 2009 1204 – Bloomberg – Geithner Slams Bonuses, Says Banks Would Have Failed (Update2), (Goldman Sachs), by Robert Schmidt – 2p AIG AIGFP AIG – Securities Lending Senate – Permanent Subcommittee on Investigations – 2008 Financial Crisis – Levin – Coburn Lloyd Blankfein Craig Broderick, Chief Risk Officer Andy Davilman David…
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