Proceedings

1989-2 5. Report of the Financial Services and Insurance Regulation (EX) Task Force Commissioner William Hager (Iowa) presented the report noting that the task force had adopted amendments to the Model Act Relating to Unfair Methods of Competition and Deceptive Acts and Practices in the Business of Insurance to address the issue of insurance agents…

1987-2 Rules Governing the Advertising of Life Insurance and Life Insurance Products Coupled with Annuities founding meeting of the Society of Market Conduct Examiners Executive Committee NAIC Position Paper on Repeal or Modification of the McCarran- Ferguson Act (Attachment Three) – (p28) Recommendation of the Special Federal Issues Task Force (Attachment Four) – (p32) Synopsis…

1987-1 Credibility of Illustrations (* By “non-guaranteed pricing elements,” we mean either the dividends in a traditional participating policy or any elements subject to change at company discretion – such as premiums, interest rates, and mortality charges—–in the so called non-traditional policies that have come to the fore recently.) To: NAIC Life Cost Disclosure Task…

1986-2 1. Report of the Life and Health Actuarial (EX5) Task Force John Montgomery (Calif.) presented the report of the Life and Health Actuarial Task Force. The various new projects and their suggested priorities were summarized in the report. In response to the question of how so many projects could be added to the already…

1982-2 Advisory Committee on Policy Lapsation LIFE INSURANCE COST DISCLOSURE·HISTORICAL BACKGROUND – Attachment 1 (p485-486) LIFE INSURANCE [SOLICITATION] DISCLOSURE MODEL REGULATION – Attachment Two  – The chairman then indicated that he had received a proposed revision of the NAIC life insurance solicitation model regulation submitted by the ACLI.(p487-499) (524-526) – STATEMENT ON BEHALF OF THE…

1981-2 For example, the survey of 15 insurers conducted by the Council shows that during the first 4 months of 1981, gross loans made averaged slightly more than $600 million per month, somewhat less than the same period in 1980 but substantially higher than the same period in 1979. These periodic spurts of borrowing have…

1994-2 Mr. Wright said the working group might develop two alternative models, one with guarantees only, and one with projections of non-guaranteed elements in an understandable format. Mary Griffin (Consumers Union) asked about Section 2 and the phase “misrepresenting the benefits of the life insurance policy.” Mr. Coleman commented on the definition of illustration in…

1996-2 LOCATE  1996-2 NAIC Proc. 646 -No Full Pay Required -Based on what Consumer Wants Q: 7.5 However, I believe that the regulation states that the premiums shown in the basic illustration must be those anticipated by the policyholder. How does this reconcile with the concept of having basic illustrations be full pay only?   …

1996-1 Data Access Dr. Yager said he attended some of the NAIC computer sessions in Detroit and he found the NAIC databases to be fascinating but that he could not afford to pay the user fees required to access the databases, particularly the Common User Interface. Mr. Adkins said he would like access to the…

1996-3 The group first considered a suggestion from Chris Kite (FIPSCO) for a new type of index that would allow consumers to compare the assumptions in the illustration. The group reviewed comments in favor of and opposed to the method described by Mr. Kite. Mr. Kite said his index has the advantage of prompting the…