Archive for August 2021
Long-term
Long-term As a liability-driven business, insurance often has long-term cash-flow patterns compared to shorter-term activities at banks. Consequently, current law fails, I believe, to adequately account for the business model and risk profile of insurance companies, and that should concern us all. (p1) — Senator Richard Shelby (R-AL) 2015 0428 – GOV (Senate) – The…
Read MoreMoratorium
Moratorium Moratorium Stay Contractual State Courts 1992 0428 / 0505 – GOV – Insurance Guaranty Funds and the Involuntary Transfer of Insurance Policies, aka Insurance Policy Transfers – Metzenbaum [Both Dates PDF-629p-GooglePlay, 0428-No Video / 0505-VIDEO-CSPAN- Insurance Policy Transfers]->Not on govinfo.gov Senate – Committee on the Judiciary – Subcommittee on Antitrust, Monopolies and Business Rights Metzenbaum, 0505 (1:41)…
Read MoreTypos
Typos In other words, when you think about, if I just sat there and said, “You know what? I think this is an unlicensed monoline, governor. Let’s go and fix this,” they would have … It was the most profitable part of AIG. The stock was at 100 or whatever. It wasn’t until the stock…
Read MoreIAIS – Run
IAIS – Run Run In paragraph 34, it is noted that some products offered by insurers (which contain provisions whereby a policyholder can withdraw cash from the policy with little notice or penalty) contain high liquid liability; however, this description is too simplified and inappropriate since it does not properly take into account the reality…
Read MoreTransamerica
Transamerica Aegon Transamerica WFG – World Financial Group interactive.web.insurance.ca.gov/apex_extprd/f?p=144:6:::NO:RP,6:P6_COMPANY_ID:5738 Name History TRANSAMERICA LIFE INSURANCE COMPANY – Current – 03/01/2001 PFL LIFE INSURANCE COMPANY – Old – 01/01/1991 NN INVESTORS LIFE INSURANCE COMPANY, INC. – Old 2012 1101 – Letter – Transamerica to SEC – Re: Supplemental Comments on Stable Value Contract Study, CFTC/SEC Release No.…
Read MoreMisconduct
Misconduct Widespread misconduct in the financial sector on a broad scale creates mistrust, weakening the ability of markets to allocate capital to the real economy. This in turn may give rise to systemic risks, which is why addressing misconduct is part of the Financial Stability Board’s (FSB) work programme. Recent instances of misconduct have included…
Read MoreA2ii – Access to Insurance Initiative
A2ii – Access to Insurance Initiative a2ii.org/en/home 16. Mis-selling means irresponsible selling & includes: misrepresenting facts to garner business distort facts to paint a rosy picture of the product unethical practice like concealing some vital information selling a whole life policy to an ineligible person (a man with huge savings/investments with no spouse & no…
Read MoreCorporate Governance
Corporate Governance 2013 1216 – ThinkAdvisor – Charges of NAIC corporate governance problems erupt, By Elizabeth D. Festa – [link] 2013 1211 – Letter – Tom Leonardi to NAIC etc – 3p “We have met the enemy and he is us!” This famous line from the comic strip Pogo aptly describes the current state of governance…
Read MoreIAIS – Consultations
IAIS – Consultations iaisweb.org/consultations/ iaisweb.org/consultations/closed-consultations/ 2014 – IAIS – Approaches to Conduct of Business Supervision 2014 – IAIS – Basic Capital Requirements for Global Systemically Important Insurers 2014 – IAIS – Risk-based Global Insurance Capital Standard 2015 – IAIS – Risk-based Global Insurance Capital Standard American Academy of Actuaries 2016 – IAIS – Risk-based Global…
Read More2014 – IAIS – Approaches to Conduct of Business Supervision
2014 – IAIS – Approaches to Conduct of Business Supervision 2014 0807 NAIC – International Insurance Relations (G) Committee – Conference Call 2014 10 – IAIS – Application Paper on Approaches to Conduct of Business Supervision – 59p
Read More