Risks – Page 4 – [BonkNote]

Non-Traditional Risks Non-traditional risks pose the greatest threat Top three were: customer loyalty competitive threats operational failure 2001 12 – NAIC – Risk Management in the Insurance Industry – Session 7a – 51p 2008 – SOA – Economic Capital for Life Insurance Companies, Society of Actuaries – 63p 19. Large life insurance groups have expanded…

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…

Operational Risk 2005 02 – SOA – Operational Risk, by Michel Rochette, The Actuary, Society of Actuaries – [link] 2008 – SOA – A New Approach for Managing Operational Risk: Addressing the Issues Underlying the 2008 Global Financial Crisis, Society of Actuaries – 91p Operational risk increases significantly when an organization experiences rapid growth. Growth typically involves…

Risk Management ERM – Enterprise Risk Management Risk Management in the Business Enterprise: Mehr, Robert 2015 – LR – The Role of the Profit Imperative in Risk Management – 58p

Liability 1986 0121 0122 – GOV (House) – The Liability Insurance Crisis [PDF-553p-GoogIePIay, VIDEO-?] Testimony – J. Robert Hunter – p279-299 House – Committee on Public Works and Transportation – Subcommittee on Investigations and Oversight 1986 0220 and 0221 – GOV (Senate) – The Cost and Availability of Liability Insurance for Small Business. Senate -…

1990s – Crisis The disaster we fear is the looming crisis of confidence, of lost credibility, of spreading fear among the public and, ultimately, of a “run on the bank” as policyholders pull their money out of the insurance industry. – (p160) — Prepared Statement: Martin D. Weiss, President, Weiss Research, Inc. 1991 0227, 0507, 0509…

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…

Functional Regulation vs Entity Regulation Gary Hughes, ACLI, SOA Gramm-Leach-Bliley (GLBA) Banks, Insurance, Securities, CFTC 1985 – LR – Functional Regulation: Looking Ahead – 25p 1998 – LR – Functional Regulation of Bank Insurance Activities: The Time Has Come, Linda Birkin Tigges – 35p 1959 – LC – 91. SEC v. Variable Annuity Life Ins. Co.,…

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…

Loans Liquidity – Policy Loans Policy Loan Premium Loan Life insurance companies are also in danger of a major acceleration of loans on outstanding policies at well below market cost of funds if short-term interest rates, especially for money market funds, continue at approximately twice the rate at which most individual policy loan contracts are…