Archive for May 2023
Q: How Do You Eat An Elephant?
Q: How Do You Eat An Elephant? The very idea of getting a handle on everything that is going on is mind boggling; but when organized, the elephant can be eaten, a bit at a time. — Alan B. Peterson, Equitable 1977 – SOA – Corporate Planning: Procedural Aspects, Society of Actuaries – 18p ……
Read MoreBGA – Benefit Generating Account
BGA – Benefit Generating Account This creature called universal life has evolved from a combination of term insurance and a flexible premium annuity to a range of differing products with various design features. Common to any of these variations is the fact that future cash values cannot be determined completely at issue. Cash values (and…
Read MoreQ: Should A Life Insurance Policy Be Split? – SIV/CIV
Q: Should A Life Insurance Policy Be Split? – SIV/CIV High early cash value policies, “premium endowments,” and other policies which overemphasize the cash-value buildup have been around for years. Recently, however, some state insurance departments have been taking a closer look at these policies. At least one state has gone so far as to…
Read MoreQ: Who Can Explain How Life Insurance Policies Work?
Q: Who Can Explain How Life Insurance Policies Work? The insider joke about indexed universal-life policies is that it takes an actuary, an attorney and maybe even an engineer to understand how the product works. Some regulators worry that hypothetical projections of savings growth using these indexes are overly rosy and can lead to unrealistic…
Read MoreMarket Conduct – Documents
Market Conduct Regulation – Documents 2016 – NCOIL – Market Conduct Surveillance Model Law – 17p Adopted by the NCOIL Executive Committee on November 11, 2006. Readopted by the NCOIL Executive Committee on November 20, 2011 and November 20, 2016. Market Conduct Uniform Examination Outline cga.ct.gov/2004/rpt/2004-R-0172.htm 2004 0211 – OLR Market Research – Insurance Market…
Read MoreBest Practices
Best Practices 2004 – NAIC – Best Practices Organizations White Paper – 50p
Read More2003 0506 – GOV (House) – Increasing the Effectiveness of State Consumer Protection – Sue W. Kelly (R-NY)
2003 0506 – GOV (House) – Increasing the Effectiveness of State Consumer Protection, Sue W. Kelly (R-NY) 2003 0506 – GOV (House) – Increasing the Effectiveness of State Consumer Protection, Sue W. Kelly (R-NY) — [BonkNote] [PDF-123p, VIDEO-?] – <mp3, mp4> – R Committee on Financial Services – Subcommittee on Oversight and Investigations CFA – J.…
Read MoreArkansas
Arkansas Mike Pickens ?-2003-? – Arkansas Insurance Commissioner 2003 – NAIC President 2003 – SOA – Current Events–Statutory, Society of Actuaries – 26p 2003 0506 – GOV (House) – Increasing the Effectiveness of State Consumer Protection, Sue W. Kelly (R-NY) — [BonkNote] Charles D. “Boe” Adams Lifetime Security Life A.L. Williams Bill Clinton Robert T. Shaw Born -…
Read MoreProject – 2023 – MAPWG – Market Analysis Procedures (D) Working Group – NAIC
Project – 2023 – Market Analysis Procedures (D) Working Group 4. Possible NAIC Recommendations for Amending the Uniform Securities Act a. At the present time, the NAIC, including the Securities and Insurance Regulation Task Force, is studying the many “new-life” insurance products that are being sold by approximately 30 insurance companies. Simultaneously, the NAIC is…
Read MoreMarket Analysis
Market Analysis NAIC – A Reinforced Commitment: Insurance Regulatory Modernization Action Plan 2006 (updated) – NAIC – A Reinforced Commitment: Insurance Regulatory Modernization Action Plan – 20p 2003 1105 – GOV (House) – Reforming Insurance Regulation: Making the Marketplace More Competitive for Consumers, Richard H. Baker (R-LA) [PDF-200p, VIDEO-?] NAIC – Mike Pickens (AL – Insurance…
Read More