Archive for August 2022
HuffPost
HuffPost 2009 0602 – HuffPost – Liddy Letter: AIG Plans To Award Bonuses Even If Taken Over By US – [link] 2010 0327 – HuffPost – Fed E-Mails On AIG Show Disdain For Transparency – [link] 2010 0410 – HuffPost – The Times Story On Goldman’s Role in AIG’s Downfall Is More Damning When Placed In Context – [link]
Read MoreKevin McGinn – AIG
Kevin McGinn – AIG Kevin McGinn – Chief Credit Officer Kevin McGinn – AIG – Nero email – FCIC Interview (mp3) [Bonk: Who did he tell? Any Documentation?] Bob Lewis FCIC Interview (mp3) – {Kevin told me he told them} 2007 1119 – email – AIG – Paul Narayan to Kevin McGinn – 3p (p2)…
Read MoreConsumer Buying Process
Consumer Buying Process Judy Faucett responded that people spend more time buying a microwave than they do an insurance policy. 1994-1, NAIC Proceedings The product is complex and confusing. The following factors must be considered in the rational selection of life insurance: (1) Amount of coverage needed. (2) Understanding of the basic workings of various…
Read MoreCOP – Congressional Oversight Panel – Documents
COP – Documents COP – Summary of Requests for Information from Goldman Sachs – 5p 2009 0324 – Letter – COP (Warren) to (DOTT) Geithner – 3p (A) COP – Congressional Oversight Panel – June Report – 11 Items 2010 0610 – COP – The AIG Rescue, Its Impact on Markets, and the Government’s Exit Strategy – 337p…
Read MoreStandardized Assumptions
Standardized Assumptions 2. Standardized Assumptions Tony Higgins (N.C.) asked the working group to consider projections into the future for only a few years of the non-guaranteed elements, and then projections further into the future of standardized assumptions or guarantees. Bob Wright said this allows a company to show how its policy works without the problem…
Read MoreBest’s Review – WishList
Best’s Review – WishList 1974 01 – Best’s Review – 3 E. J. Moorhead, “The Hart Hearings in Perspective,” Best’s Review, January, 1974, p. 16: – <WishList> “First is the massive ignorance of policyholders about their life insurance. It is hard to believe that people know as little about their life insurance property as the surveys…
Read MoreAIG – Press Releases
AIG – Press Releases 2008 0916 – AIG – Press Release – AIG Statement on Announcement By Federal Reserve Board of $85 Billion Secured Revolving Credit Facility: Addresses Liquidity Issues and Policyholder Concerns – 2p 2008 1110 – AIG – Press Release – AIG Reports Third Quarter 2008 Results: Consolidated Premiums and Other Considerations Totaled $21…
Read More2021 – IAIS – Application Paper on Resolution Powers and Planning
2021 – IAIS – Application Paper on Resolution Powers and Planning 2021 – IAIS – Application Paper on Resolution Powers and Planning – 54p 2021 – IAIS – Resolution of public consultation comments on Application Paper on Resolution Powers and Planning, 09-Nov-20 to 06-Feb-21 – 73p 2021 – IAIS – Resolution of public consultation comments on Application Paper…
Read MorePanic of 1907
Panic of 1907 1 Kerry A. Odell and Marc D. Weidenmier, “Real Shock, Monetary Aftershock: The 1906 San Francisco Earthquake and the Panic of 1907,” J. Econ. Hist. 64, no. 4 (2004): 1002–1027. Indeed, the Federal Reserve arguably owes its creation, which followed the Panic of 1907, at least in part to the insurance industry.…
Read MoreAggregation Method
Aggregation Method ICS – Insurance Capital Standards – IAIS Date? – NAIC – NAIC’s Interpretive Guidance on ICS Comparability Assessment Framework – 3p Group Capital Calculation (E) Working Group – CIPR NAIC – Group Capital Calculation – [link] U.S. state insurance regulators have adopted a group capital calculation (GCC) for use in solvency monitoring activities. (p3) – The Aggregation Method…
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