Lawyers – Snippets

  • It’s amazing what plaintiffs’ lawyers deem to be material for purposes of the sale.
    • Was it material that an agent received 95% of the first year’s premium?
    • Was it material that the agent could have sold you essentially the same policy, particularly in a universal life scenario, and received only 40%?
    • Those are things that you see in these lawsuits.

—  James F. Jorden, senior managing partner of Jorden, Burt, Berenson & Johnson LLP in Miami

1996 – SOA – Legal Issues Affecting Nontraditional Products, Society of Actuaries – 14p

  • Now as usual, things that are prohibited can nonethelessbe done if you do them right.
    • The way to do it is either comply with an exemptive rule or get an exemptive order. 

—  W. Randolph Thompson, with the law firm of Jones & Blouchin Washington, will speak on some SEC issues

1993 – SOA – Variable Products — Product for the 1990s?, Society of Actuaries – 22p