Regulatory – Page 4

AIG – Insurance Regulators 2009 0303 – Missouri Insurance Commission – AIG Frequently Asked Questions – [link] (a) On September 16, 2008, Dinallo reiterated Governor Paterson’s offer to allow AIG to upstream $20 billion from its insurance subsidiaries (Dinallo Dep. 214:13- 21). Geithner responded, “No, we’re good” (id. at 215:16-18). As a result, Dinallo was “led…

Regulation – Insurance – Coordination Eyes I realized, there was nobody else. There was no one for me to get help on this. This was it. I’m in the room. Geithner’s asking. Paulson’s listening. I finally had no one else to ask. I mean, my experts obviously. But it was one of those moments in…

2014 12 – re: FSOC SIFI Designation of MetLife, Woodall / Hamm – Views of the Council’s Independent Member Having Insurance Expertise – 13p 2014 12 – re: FSOC SIFI Designation of MetLife, Woodall / Hamm – Views of the Council’s Independent Member Having Insurance Expertise – 13p Roy Woodall – I do share concerns about…

2008 – Insurance Regulation Was Not The Problem Dinallo Vaughan Frank State insurance regulation was not a factor in the economic downturn and should not be swept into any proposed financial services overhaul. 2009 0402 – Letter – NCOIL to GOV (Senators Dodd, Frank, Shelby, Bachus) – 2p

Regulator Information From Companies However, the regulatory approach in Massachusetts continues to rely on insurer disclosure to enforce insurance holding company laws. (p2) 1995 – GAO – Insurance Regulation: Observations on the Receivership of Monarch Life Insurance Company – 22p

MAV – Market-Adjusted Valuation ICS – Three Bucket – IAIS Market Value Adjusted Year? – BIS – ICS – Market-adjusted Valuation – Executive Summary – 2p 2017 1205 – Swiss Re – Valuing Insurance Liabilities for Market Adjusted Valuation with Cost of Capital Margin over Current Estimate – 17p Actuarial theactuarymagazine.org/tailoring-global-capital-standards/ SOA – 2015 03 – SOA -…

Fraud NAIC – Anti-Fraud (EX6) Subcommittee Fraudsters The fact that we charge people fees that we have disclosed and that fees reduce the value of your policy, and if your policy keeps reducing in value, it will lapse, is not a fraud. That’s common sense. That’s how life insurance works. (p171) — Closing Argument by…

Insurance Regulators – Companies are Okay 1980s Baldwin United 1990s Executive Life 2000s AIG Executive Life Insurance Company 1990 1207 – Los Angeles Times – N.J. Seeks Deposit From First Executive : Insurance: The ailing firm must make a $500-million payment or lose its right to sell policies there, the state says., BY Scot J.…

Consumer Understanding James Hunt (National Insurance Consumer Organization) stated that in his experience most people are very confused about the coverage they have. Mr. Morgan (Ohio) stated that his experience was that consumers did not understand what they had purchased. He said there should be an understandable way of saying that the company is guessing…

Aggregation Method ICS – Insurance Capital Standards – IAIS Date? – NAIC – NAIC’s Interpretive Guidance on ICS Comparability Assessment Framework – 3p Group Capital Calculation (E) Working Group – CIPR NAIC – Group Capital Calculation – [link] U.S. state insurance regulators have adopted a group capital calculation (GCC) for use in solvency monitoring activities. (p3) – The Aggregation Method…