Regulatory – Page 12

ASOPS – Actuarial Standards of Practice actuarialstandardsboard.org/standards-of-practice/ Practice Notes One of my concerns is that we have Practice Notes that people may not be looking at, which in a court of law could be used against you. Read the ASOP; read the regulation and get your hands on the Practice Notes and do what the…

NOLHGA – National Organization of Life and Health Insurance Guaranty Associations nolhga.com National Organization of Life and Health Insurance Guaranty Associations NOLHGA was created in 1983 nolhga.com/factsandfigures/main.cfm/location/insolvencies/orderby/date#sort nolhga.com/pressroom/journal.cfm These events, of course, were the reasons that NOLHGA was created (under the auspices of the ACLI). 2006 0803 – DOTT – Remarks of David G. Nason…

Licensing Among the applications refused are those of a New York banker, a railroad conductor, a barber, a foot specialist, a physician , several lawyers, a clergyman – who naively says that while some policies were obtained by him last year “my name was not used ” – and another clergy man, whose authorization the…

Capital Capital – Index Capital Formation Capital Markets Capital Standards ICS – Insurance Capital Standards RBC – Risk Based Capital 1981 – SOA – Effective Use of Capital, rsa81v7n14, Society of Actuaries – 26p 1981 – SOA – Effective Use of Capital, rsa81v7n312, Society of Actuaries – 24p 1987 – SOA – Sources of Capital…

Policy Performance ….provide illustrations based on different assumptions. This would serve to demonstrate to the consumer the effect on future benefits of changes in assumptions. STATEMENT ON BEHALF OF THE AMERICAN COUNCIL OF LIFE INSURANCE <ACLI> TO THE NAIC MARKET CONDUCT SURVEILLANCE (EX3) TASK FORCE, June 13, 1988 1988-2, NAIC Proceedings – Walker v LSW -…

Q: What’s the Problem That We Are Trying To Solve? *Robert E. Wilcox: What’s the real problem then, Shane? Shane Chalke: I’ll say before I answer that I don’t have a good answer. 1995 – SOA – Current Developments Surrounding Regulations and Standards of Life and Annuity Products, Society of Actuaries – 18p ⇒ *Robert…

Reinsurance Assumption Reinsurance Captive Reinsurance Financial Reinsurance Reinsurance Collateral Reinsurance – Taxes 1988 – SOA – Reinsurance Tax Issues, Society of Actuaries – 10p Surplus Relief Reinsurance Skinner – GOV – Blunt Instrument NAIC – Special Purpose Reinsurance Vehicle Model Act – 789-1 – 34p Section 1. Purpose – This Act provides for the creation of Special…

NAIC – Insurance Regulators – Snippets NAIC – Insurance Commissioners – Snippets NAIC – Insurance Commissioners – Snippets – 1970s NAIC – Insurance Commissioners – Snippets – 1980s NAIC – Insurance Commissioners – Snippets – 1990s NAIC – Insurance Commissioners – Snippets – 2000s NAIC – Insurance Commissioners – Snippets – 2010s NAIC – Snippets…

Nonforfeiture 1941 Guertin Report NAIC’s Committee to Study Nonforfeiture Benefits and Related Matters, chaired by Alfred N. Guertin, actuary of the New Jersey Insurance Department 1942-Supplement, NAIC Proceedings – Reports and Statements on Non-Forfeiture Benefits and Related Matters 1975 Unruh Committee SOA, Special Committee on Valuation and Nonforfeiture Laws, chaired by Henry C. Unruh 1983-1,…

Accountability Second, it was observed that ….. there is virtually no accountability for any of the participants in the sale, ..not for the company, not for the agent, and interestingly, the white paper discussed accountability on the part of the purchaser as well. — Robert E. Wilcox, Utah Insurance Commissioner and Chairman of the Life Disclosure Working…