Problem – [BonkNote]

Problem – Legal Cases – Class Actions MDL – Multidistrict Litigation – Legal Cases ⇒ First, there has to be a systemic problem before a class-action cause of action can be brought, and I think that we can all agree that if there is a systemic issue in advice that is being provided, we would…

Deceptive Sales Practices Deceptive 1973 / 1974 – GOV (Senate) – The Life Insurance Industry, Senator Hart (D-MI) – 4 Parts — [BonkNote] 1973 0223 – Part 3 of 4 – [PDF- 641p-GooglePlay] (p2074) – “Deceptive Sales Practices in the Life Insurance Business,” by Joseph Belth (draft) 1974 – AP – Deceptive Sales Practices in…

Underfunded Life Insurance Policies “under funded” “life insurance” Impactful Ideas to Promote Ethics Awareness Small Group Case Study Discussions Use Real (Sanitized) Cases From Your Own Company Supplement With Industry Challenges (e.g. Underfunded Universal Life Insurance Policies and What Steps Company Compliance & Ethics Professionals Can Take to Help Their Companies Address this Issue) 2019…

1994 – SOA – Problems and Solutions for Product Illustrations, Society of Actuaries – 28p 1994 – SOA – Problems and Solutions for Product Illustrations, Society of Actuaries – 28p BRADLEY E. BARKS (Chief Product Actuary for LIfeUSA Insurance Company: The subject we are going to talk about is life insurance and disclosure regulation, which the NAIC is working…

Problem – Lapse Commissioner Huff was appointed as Chairman of a new task force on life insurance policy lapsation. The task force was charged with the responsibility of identifying specific problems involved and seeking solutions to the problem of life insurance policy lapsation. 1976-4, NAIC Proceedings ⇒ Commissioner Huff = William H. Huff III -…

Misleading Misleading Illustrations Why is this flimflammery allowed to continue? Where are the laws to prevent companies from misleading people? — Senator Howard Metzenbaum (D-OH) 1993 0525 – GOV (Senate) – When Will Policyholders Be Given The Truth About Life Insurance?, Senator Howard Metzenbaum (D-OH) — [BonkNote] (Northwestern Mutual Life: A Century of Trusteeship by…

Problem – Reinsurance On reinsurance, in 1984 we passed a new act on reinsurance in terms of what has got to be put up from the unauthorized reinsurers to insure that there are some funds available, in case those insurers disappear. We have taken action on reinsurance. We have taken additional action because we see…

Life Insurance Industry Challenges The life insurance industry is currently facing challenges in many fronts. These challenges, if not properly met, could easily lead to financial problems for many companies. Within the last decade, life insurance companies have increased their sales of products that are sensitive to the interest rate environment. Examples of such products…

Problem – Insurance Regulators II. REGULATORS’ PROBLEMS The development of new products and the entry into new lines of activities by financial organizations have presented regulators with serious new problems. These problems have shown up in the area of protections afforded buyers of these products and most especially in the area of regulating the operations…

Problem – Consumers As William Douglas, the third commissioner in the SEC’s then-short life, said in 1937 of new disclosure rules: “We can demand full disclosure of the facts, we can insist upon a market free of manipulation, we can fight fraud, but we cannot provide sound business judgment, nor can we save a fool…