Utah
- Jake Garn - (R-UT)
- 1974-1993 - US Senator
- Orrin Hatch - (R-UT)
- 1977-2019 - US Senator
- Frank Moss - (D-UT)
- 1959-1977 - US Senator
- Tomasz Serbinowski
- Utah Insurance Commissioner - Actuary
- 2019 0528 – IULSG – IUL Illustration Subgroup – (A) – NAIC
- [Bonk: Not in NAIC Proceedings]
- Scott Harris - We really take exception to Birny's characterization of misleading conduct. We'll have the opportunity to comment and express our views. Also I just want to point the illustrations are, in fact, accurately demonstrating how the products function. To Birny's point that the companies are doing what the model requires, so be it. The reality is the illustrations are demonstrating how the products function. We do agree that effective disclosure is important. We are interested in simplification of how products are illustrated. We want consumers to have the best information presented in a meaningful way.
- Tomasz Serbinowski - Actuary(UT) - I think that's completely disingenuous what was just said. That was the main purpose of the illustration, main purpose to show how the product works. ....{of 2% or 3%} rate. The whole issue is whether the values are realistic or not. And that's why we had that whole discussion. It's not that the companies want to show how the features and how the product works. I disagree with that comment. If that was that the main objective, then we would have no problem agreeing on illustrating the future at a much lower value.
- Robert E Wilcox
- ?-1994-? - Utah Insurance Commissioner
- 1990s - NAIC - Chairman of the Life Disclosure Working Group
- ?-1994-? - Utah Insurance Commissioner
- To: Commissioner Harold C. Yancey, From: John M. Coomans, Date: October 20, 1988 - Subject: Proposed disclosure statements for interest sensitive products
- (p680) - 2. The guaranteed ending date of the policy.
- A statement which says: Based on guaranteed interest rates, guaranteed mortality charges and the payment of the scheduled premiums, coverage will end on--------
- RoseMarie is insisting that the Policy Schedule Page identifies the date when the policy will lapse based on paying the planned premium and guaranteed assumptions of interest and mortality rates.
- (p889) - Verbal misrepresentation by omission involving these products occurs frequently.
- It is assumed that the disclosure statements will be presented under the heading of Statement of Policy Cost and Benefit Information, according to the NAIC Life Insurance Solicitation Rule.
- RoseMarie is insisting that the Policy Schedule Page identifies the date when the policy will lapse based on paying the planned premium and guaranteed assumptions of interest and mortality rates.
- She is returning policy filings that do not clarify this.
- She is doing this based on 31A-21-301 UCA, which refers to disclosing the beginning and ending dates of insurance protection.
- RoseMarie Parkinson
- It is assumed that the disclosure statements will be presented under the heading of Statement of Policy Cost and Benefit Information, according to the NAIC Life Insurance Solicitation Rule.
Consumer Disclosure Issues Working Group of the Product Development (A) Task Force
1989-1, NAIC Proc. (p673) - [Letters/ Feedback]
- UTAH—Appointed, at the Pleasure of the Governor
- Commissioner of Insurance Todd E. Kiser 12/20/2012 incumbent
- Commissioner of Insurance Neal T. Gooch 5/24/2010 12/20/2012 2 7
- Acting Commissioner of Insurance Neal T. Gooch 1/19/2010 5/24/2010 0 4
- Commissioner of Insurance Donald Kent Michie 1/5/2005 1/19/2010 5 0
- Commissioner of Insurance Merwin Stewart 2/8/1997 1/5/2005 7 11
- Commissioner of Insurance Robert E. Wilcox 1/1/1993 2/7/1997 4 1
- Commissioner of Insurance Harold C. Yancey 10/1/1985 1/1/1993 7 3
- Commissioner of Insurance Roger C. Day (Died 7/18/2019) 6/1/1977 10/1/1985 8 4