Regulatory – Page 7

Cost Benefit 1995 0308 – Regulatory Reform [VIDEO-CSPAN] Senate Governmental Affairs Committee members heard testimony from witnesses concerning regulatory reform issues, including whether cost/benefit analysis and risk assessments should be conducted before new regulations are put into effect.

Regulatory Forbearance 2021 – AP – Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Removing Capital Requirements for an Asset Class, by Bo Becker (Stockholm School of Economics, CEPR, and ECGI), Marcus M. Opp (Stockholm School of Economics and CEPR), Farzad Saidi University of Bonn and CEPR), The Review of Financial Studies, Volume…

RBC – Risk-Based Capital NAIC Risk-Based Capital (RBC) For Insurers Model Act, MDL-312 – 20p content.naic.org/cipr_topics/topic_riskbased_capital.htm NAIC – Life Risk-Based Capital Report: Including Overview and Instructions for Companies – link – 1993-Current Financial Condition (E) Committee Life Risk-Based Capital (E) Working Group – content.naic.org/cmte_e_lrbc.htm 1994 – NAIC – Raising The Safety Net: Risk-Based Capital for…

Crisis 2008 Financial Crisis Crisis in Confidence Crisis – 1990s FCIC – Financial Crisis Inquiry Commission Liability Crisis We’ve all heard a lot about the junk bond crisis. Is the next crisis going to be junk illustrations? — Judy Faucett 1991 – SOA – Illustrations, Society of Actuaries – 20p 2009 – AP – Reflections on Northern…

Best Interest Standards acli.com/Public-Policy/Best-Interest-Standard content.naic.org/cipr_topics/topic_annuity_suitability_best_interest_standard.htm 2018 – SOA – Changing the Retirement Advice Conversation, Society of Actuaries – 5p 2023 0520 – Letter – Barry Flagg / Veralytic to Finseca – 2p I regret to have to resign from Finseca … again, for the following reasons. California Best Interest Rule for insurance products (i.e., CA…

Private Right of Action 2004 – LR – PSLRA, SLUSA, and Defrauded Retirement Investors: Overlooked Side Effects of a Potent Legislative Medicine, by Michael J. Borden — [BonkNote] A regulator pointed out that a provision for a private cause of action is a major departure from NAIC policy, and after extensive discussion, the working group…

Risk Classification 1980 – SOA – Risk Classification, Society of Actuaries – 18p 26. Five sets of congressional hearings have been held on a bill introduced by Senators Hatfield and Packwood and Representative Dingell that would prohibit classification on the basis of race, color, religion, sex, and national origin. Most of the testimony from the…

NARAB – National Association of Registered Agents and Brokers 2000 0412 – Testimony – NAIC to GOV (Senate) – State Implementation of the NARAB Subtitle in the Gramm-Leach-Bliley Act, Testimony of the Financial Services Modernization NARAB Working Group, Terri Vaughan (IA) – 19p Senate – Committee on Banking, Housing, and Urban Affairs – Securities Subcommittee…

Numeric Summary Illustrations and Premium Limits The NAIC Life Insurance Illustrations Model Regulation requires a basic illustration to consist of a numeric summary of the death benefits and values on three bases: Here is an example. The policy illustrated below is $100,000 specified amount with a $60 policy load, assessed monthly. The guaranteed interest rate…

Yield Index NAIC Yield Index Advisory Committee 1989 – SOA – What Will Be The Life Insurance Products Of The Future, Society of Actuaries – 18p 1987 – SOA – Regulatory Update, Society of Actuaries – 26p The NAIC Yield Index Advisory Committee was started in the middle of 1984 at the behest of the regulatory…