Rate Regulation

  • Rate regulation is not an issue that pertains to the life market.

-- William Fisher, ACLI / Vice President and Associate General Counsel for the Massachusetts Mutual Life Insurance Company, on behalf of the American Council of Life Insurers

2001 0621 - GOV (House) - Insurance Product Approval: The Need for Modernization, Richard H. Baker (R-LA) - [PDF-208p, VIDEO-?] 

  • Commissioner David Lyons (Iowa) convened the Life Insurance (A) Committee for the purpose of conducting a hearing on the Second Standard Nonforfeiture Law for Life Insurance and the Standard Nonforfeiture Law for Deferred Annuities. 
  • Bill Carroll. (American Council of Life lnsurance-ACLI) said the ACLI did not believe the life insurance model should be adopted in its present form because it constituted rate regulation, especially in respect to non-traditional products, referred to as fund-based products.
    • [Bonk: fund-based products ≅ Universal Life]

1994-1, NAIC Proceedings

  • There is no rate regulation for life insurance companies in any State that I know of.
    • Life insurance is an open competition rate, and has been very successful that way; there's been no regulation.  (p5)

--  Statement of John C. Neff, Commissioner, Tennessee Department of Commerce and Insurance

1985 Part 1 1116, 1223, 1230 – GOV (Senate) - The Cost and Availability of Liability Insurance for Small Business - [PDF-1163p-GooglePlay-link]