Regulatory
Q: What’s the Problem That We Are Trying to Solve?
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…
Read MoreReinsurance
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 CHAIR : What is the status of Maryland regulation of reinsurers? Mr. Muhl, Maryland Insurance Commissioner: There is none. Chair : And is there in…
Read MoreNAIC – Insurance Commissioners – Snippets
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…
Read MoreNonforfeiture
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,…
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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…
Read MorePolicy Information for Applicant – Universal Life Policy – NAIC
Policy Information for Applicant – Universal Life – NAIC Focus Groups 1990-1A, NAIC Proceedings – NAIC / LIMRA – Universal Life Disclosure Form Focus Group Summary, — [BonkNote] — 10p 1993 – NAIC – Policy Information for Applicant – Universal Life Policy – 3p Life Insurance Disclosure Model Regulation – Appendix D Located in: 1993 0525 – GOV (Senate)…
Read MoreFiduciary
Fiduciary Advice Incidental Advice DOL – Fiduciary Rule – Department of Labor Fiduciary Duty Relationship (p54) – 1:34-1:41 – Eric DINALLO, Superintendent, New York State Insurance Department – Well, I think it’s important for everyone to know there’s a very strong tension between policyholders’ interest and shareholders’ interest in a publicly traded company. The board and management…
Read MoreGRET – Generally Recognized Expense Table
GENERALLY RECOGNIZED EXPENSE TABLE (GRET) 1998 – GENERALLY RECOGNIZED EXPENSE TABLE FOR 1998 ILLUSTRATIONS. SOCIETY OF ACTUARIES COMMITTEE ON LIFE INSURANCE RESEARCH. REPORT TO THE NAIC LIFE DISCLOSURE WORKING GROUP, Society of Actuaries – 8p 1996-2 Generally Recognized Expense Table 716 Adopted 695 2000-3 Society of Actuaries Committee on Life Insurance Research Report to the…
Read MorePlan of Insurance
Plan of Insurance “Plan of Insurance” vs Specific Policy [Plan of Insurance] 2019 0903 – 2019-3, NAIC Life Insurance Illustration Issues (A) Working Group (LIIIWG) – Conference Call Michael Lovendusky, ACLI … said assisting consumers to compare products is outside the scope of the Working Group’s charge, and it would limit innovation and harm consumers.…
Read MoreMarketing
Marketing …a great deal of our problem is caused because the people out there marketing our life insurance products are trying to market it against and like mutual funds. Until we start to market it as life insurance and describe it and teach the consumers about life insurance, they’re not in any position to make…
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