Regulatory

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…

Duty Duty to Disclose Duty to Read Duty to Speak Fiduciary Duty Memorandum of Law in Support of American General Life Insurance Company’s Motion for Summary Judgement See Watkins v. HRRW, LLC, 2006 WL 3327659, at *8 (“Tennessee courts, however, have rejected breach of fiduciary duty claims against insurance agents in various factual circumstances.”); see…

Narrative Summary The narrative summary consists of: (1) a brief description of the policy being illustrated and the statement that the policy being illustrated is a life insurance policy; (2) a brief description of the premium outlay or contract premium as applicable for that policy; (3) a guaranteed maturity premium to keep the policy in…

Missouri – Insurance Commissioners insurance.mo.gov/about/pastdir.php Director Tenure Chlora Lindley-Myers, Director March 6, 2017 to Present John F. Rehagen, Acting Director February 7, 2017 to March 6, 2017 John M. Huff, Director February 6, 2009 to February 6, 2017 Kip Stetzler, Acting Director January 10, 2009 to February 5, 2009 Linda Bohrer, Acting Director June 1,…

Regulations.gov federalregister.gov/documents/2016/04/25/2016-09456/proposed-agency-information-collection-activities-comment-request 2011 0406 – Re: Financial Stability Oversight Council Notice of Proposed Rulemaking Regarding Authority to Require Supervision and Regulation of Certain Nonbank Financial Companies (12 CFR Part 1310; RIN 4030-AAOO) – 11p Dennis Glass, 2023 – federalregister.gov/documents/2023/04/28/2023-08964/authority-to-require-supervision-and-regulation-of-certain-nonbank-financial-companies DOL – Fiduciary Rule – [BonkNote] DOL – Fiduciary Rule – Outline – [BonkNote] Retirement Security Rule: Definition of…

IAIS – Index ABCDEFGHIJKLMNOPQRSTUVWXYZ# A AAA to IAIS Activities Based Approach Aggregation Method Back to top C Corporate Governance Back to top I IAIS – Activities Based Approach IAIS – Application Papers IAIS – Consultations IAIS – Consultation – Snippets IAIS – Holistic Framework IAIS – International Association of Insurance Supervisors – Documents IAIS –…

Ring Fence AIG – Ring Fencing Insurance Companies

Fraud

Insurance Regulators – Companies are Okay

Consumer Understanding

Aggregation Method

Duty

Narrative Summary

Missouri – Insurance Commissioners

Regulations.gov

IAIS – International Association of Insurance Supervisors – Index

Ringfencing