Proceedings

1993-2 Finally, I want to offer a comment on recent action taken by the NAIC that I think has served to provide some confusion, if you will, to regulators, regulated industries and consumer participants. That has to do with our decision to abolish formal advisory committees. I think we recognize the need to refine our…

1973-1 II. Proposed Changes in the Standard Valuation Law Draft of November 20, 1972 1973-1, NAIC PROCEEDINGS lt may be of interest to convey some of the highlights, — excerpts of these communications follow: We could accept the judgment of many, but not all, financial experts that we are now in a “new era” of…

1975-4 LIFE, ACCIDENT, AND HEALTH (D) COMMITTEE; Life Insurance (C3) Subcommittek 1975-4, NAIC Proc. …undertaken to determine the present state of consumer knowledge of life insurance and the types and level of information that would be in the buying decision or process. The Institute of Life Insurance accepted responsibility for this project. In cooperation with…

1984-1 The changes in the nature of the insurance industry over the past several years, both in terms of product diversification and asset diversification, has created considerable stress on the regulatory  control mechanisms.  Some of the symptoms of the problem are: 2. Increased leveraging of insurance companies through long-term interest rate guarantees on an increased…

1985-1B, NAIC Proceedings 1984 1212 – AAA – The NAIC And The Actuarial Profession – Attachment Three – American Academy Of Actuaries Statement of Stephen G. Kellison, Executive Director Of The American Academy Of Actuaries To The NAIC Technical Services Ex5 Subcommittee The purpose of this statement is to speak in favor of establishment of a…

1993-1B Ms. Faucett noted that she had served as the chair of the SOA Task Force on Life Illustrations and that the task force had conducted an extensive survey of life insurance companies and insurance departments on the nature and extent of problems that exist with respect to policy illustrations. As a result of the…

1988-2 (p434) – Two-B -Proposed regulation by the California Department of Insurance, draft dated 4/11/88 concerning the valuation of universal life insurance plans. The regulation provides for the pre-funding of cash values, so that the amounts will be available upon policyholder demand, and will not be contingent upon sufficient surplus being available at that time…

1990-1 Analysis of Insurance Competitive Pricing Act of 1989 by National Association of Insurance Commissioners October 24, 1989 ATIACHMENTEIGHT-B The National Association of lnsurance Commissioners has traditionally opposed any modification of the McCarran-Ferguson Act, 15 U .S.C. Sec. 1011 et seq. that would adversely affect the states’ ability to properly oversee the insurance industry. The…

1981-4 I am William C. Scheel, Associate Professor of Finance and insurance, University of Connecticut, Storrs, Connecticut. My remarks today are my own; they are uncompensated and may only coincidentally be views shared by anyone else. Introduction During my last encounter with this task force, I questioned whether the group was just playing another game…

1988-1 Life Insurance Advertising Issues Subgroup 6. “Nonguaranteed Policy Element” shall mean any premium, cash value, death benefit, endowment value, dividend or other policy benefit or pricing element or portion thereof whose amount is not guaranteed by the terms of the contract. Any policy element that contractually follows a separate account result or a defined…