Archive for November 2022
Reliance Insurance Company
Reliance Insurance Company 2007 1017 – NYT – Pennsylvania Regulators Sue Deloitte & Touche in the Collapse of Reliance Insurance, By Joseph B. Treaster – [link] Boyle, C.E., “Reliance Insurance 1817-2001 – R.I.P, ” Insurance Journal, 7/23/2001. GOV (House) – Kanjorski / McRaith nolhga.com/companies/public/main.cfm/NAICCode/24457/GAID/100 https://www.insurance.pa.gov/Companies/IndustryActivity/Documents/ONEBEACON%20CUMULATIVE%20LOG/104.pdf – 39p archives.gov/files/research/jfk/releases/docid-32329636.pdf – 56p https://assets.kpmg.com/content/dam/kpmg/ca/pdf/creditorlinks/reliance-insurance-company/liquidators-report-2009-12-09.pdf
Read MoreSales of Insurance Companies / Blocks of Business
Sales of Insurance Companies / Blocks of Business National Financial of Waco was attracted to the $63.8 million block of policies that included the Eplands’ because Texas regulations allowed the company to reduce the reserves needed to cover claims arising from those policies by $18 million, a stroke of accounting magic that created more than…
Read MorePolicy Transfers
Policy Transfers “These policy transfers treat policyholders like commodities, trading them like baseball cards,” Mr. Metzenbaum said in a statement. The acquiring companies are often “in such poor financial shape that they couldn’t attract policyholders but had to buy them wholesale, without their consent.” [Senator Howard Metzenbaum (D-OH)] 1994 0328 – NYT – Transfers By…
Read MoreCC – 1993 When and 2005 Military
CC – 1993 When and 2005 Military and 2022 Current Issues in Insurance Many insurance companies even have a way to get a consumer’s money without the consumer ever knowing about it. Most policies have a clause that allows the company, without telling the policyholder, to dip into the savings component of their life insurance…
Read MoreLifeHappens
LifeHappens lifehappens.org LIFE, a non-profit organization founded in 1994 by representatives of seven life and health insurance agent organizations in the United States and Canada, was formed to address the growing need to educate the public regarding the benefits of life and health insurance and the value-added role of the agent/advisor. — David F. Woods,…
Read More2008 Financial Crisis – Insurance Regulation Was Not The Problem
2008 – Insurance Regulation Was Not The Problem Dinallo Vaughan Frank State insurance regulation was not a factor in the economic downturn and should not be swept into any proposed financial services overhaul. 2009 0402 – Letter – NCOIL to GOV (Senators Dodd, Frank, Shelby, Bachus) – 2p
Read MoreSmart Act
SMART Act SMART – State Modernization and Regulatory Transparency Act 2005 0616 – GOV (House) – Smart Insurance Reform [PDF-157p, VIDEO-?] House – Committee on Financial Services – Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises 2005 0616 – GOV (House) – Smart Insurance Reform – [PDF-157p, VIDEO-?] House – Committee on Financial Services -…
Read More72t – IRC – Internal Revenue Code
72t – Substantially Equal Periodic Payments – IRC – Internal Revenue Code – LC – Ciofoletti V. Securian Fin. Grp., No. 0:18-cv-03025-JNE-ECW (D. Minn.) – filed in federal court in St. Paul, Minnesota Doc. 151-21 – Ed Storer Deposition (p26) – And we had this case, as I explained earlier, where we needed to do it…
Read MoreMetLife – Advertisements
MetLife – Advertisements 1986-UL-MetLife-Star_Gazette_Wed__Mar_19__1986
Read MoreAdvertisements
Advertisements 1988 0325 – GOV (Senate) – Tax Treatment of Single-Premium Life Insurance, aka Single Premium Life Insurance [PDF-199p, VIDEO-CSPAN] -> Not on govinfo.gov (p13) – Senate – Committee on Finance – Subcommittee on Taxation and Debt Management
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