Overview – Page 2 – [BonkNote]

Accounting Fair Value Accounting GAAP – Generally Accepted Accounting Principles Mark to Market Accounting SAP – Statutory Accounting Principles IAS – international accounting standards for insurers “natural reserve theory” AICPA – American Institute of Certified Public Accountants The CPA letter FASB – Financial Accounting Standards Board IFRS – International Financial Reporting Standards IASB – International…

Life Insurance Life insurance, because it is a nontangible product, is extremely susceptible to being perceived as whatever people think it to be. — Larry Silkes 1983 – SOA – Universal Life Valuation and NonForfeiture: A Generalized Model, Shane A. Chalke and Michael Davlin, Society of Actuaries – 72p (p30) – Life insurance is a theme…

Years ABCDEFGHIJKLMNOPQRSTUVWXYZ# A AIG – Timeline – Dinallo Back to top C Current Events Back to top F FSOC – Timeline Back to top G Government Hearings – 1930s Government Hearings – 1940s Government Hearings – 1960s Government Hearings – 1990s Government Hearings – 2000s Government Hearings – 2010s Back to top O Old…

Worldview Bretton Woods Conference – Bretton Woods system – 1945-1971 led to the establishment of the IMF and the IBRD (International Bank for Reconstruction and Development) – (now the World Bank) bonknote.com/worldview-searches/ wikipedia.org/wiki/List_of_financial_regulatory_authorities_by_country wikipedia.org/wiki/European_Union%E2%80%93United_Kingdom_relations United States AICPA – CFTC – Commodity Futures Trading Commission cftc.gov/ Congress Courts DOT – Department of Treasury CFPB – Consumer Financial Protection Bureau consumerfinance.gov/ …

Investments Investments – Index Bonds Corporate Bonds Junk Bonds / High-Yield Bonds Municipal Bonds Private Placement Bonds Commercial Paper Company Investments Real Estate Securities Lending Derivatives Options Futures Swaps The subject of futures and options is very topical. Legislation and regulations enabling life insurers to begin using these instruments have been passed in several states…

Systemic Risk Systemic Risk – Index Assimilation of banking-type activities by life insurers appears to be the key systemic vulnerability. 2003 – IMF – Insurance and issues in financial soundness. IMF working paper 03/138. Das U, Davies N, Podpiera R – 44p 2009 0305 – GOV (House) – Perspectives on Systemic Risk, Paul Kanjorski (D-PA) — [BonkNote] Terri Vaughan…

Issues and Debates ABCDEFGHIJKLMNOPQRSTUVWXYZ# A As long as you pay the premium Back to top B Bait and Switch BTID – Buy Term Invest the Difference Back to top C Change Without Damage Commissions Companies Changing Systems Complaints Confusing to People Confusion Copy of Q: How Can Universal Life Insurance Be Classified? Permanent / Whole…

System Systemic Risk It is hard to fix a system that has not been analyzed. (p14) — J. Robert Hunter (Director of Insurance, Consumer Federation of America) 2003 0506 – GOV (House) – Increasing the Effectiveness of State Consumer Protection – [PDF-127p, First, for the period 1930 through 1970, the roles taken by various financial…

Academics Academic Fields Academic Papers Academic Papers – Snippets Scholars – Academic, Insurance, Legal Collaboration soa.org/globalassets/assets/library/newsletters/the-actuary/1979/february/act-1979-vol13-iss02-moorhead.pdf In addition to our education system, the body of actuarial knowledge itself needs the nutrition that the academic world can supply. Academics look at problems differently than those of us in the practical world, and that difference in perspective…

Government Federal Government Government Hearings States regulations.gov federalregister.gov Notice of Proposed Rulemaking Congressional Budget Office – cbo.gov Monthly Catalog of United States Government Publications Cumulative Index 1991 – Vol. III Government StructureGovernment – SnippetsGovernment (Fed) – AVSystemic Risk – Government HearingsUniversal Life – Federal GovernmentSB-Congress Video clips – todoConsolidated Appropriations Act 2021 Treasury Bureaus FIO…