SandBox – Page 3 – [BonkNote]

Tipping Point Dear Editor: Life Insurance Sales Illustrations – A Call to Action We have reached the stage where a life insurance sales illustration is hardly worth the paper it is printed on. Yet thousands of agents are confidently presenting these illustrations to frequently unsuspecting clients. I have yet to discuss this issue with anyone…

Typos In other words, when you think about, if I just sat there and said, “You know what? I think this is an unlicensed monoline, governor. Let’s go and fix this,” they would have … It was the most profitable part of AIG. The stock was at 100 or whatever. It wasn’t until the stock…

NON Non – Index Nonguaranteed Non-Traditional Non-Traditional Risks 14. Paragraph 25: The comments regarding level playing field could be extended to noninsurance (ie investment-related) products offered by insurers. 2011 0926 – IAIS to OECD – Comment on the OECD’s draft paper on Policyholder Protection Schemes: Selected Considerations IAIS to OECD Comment Letter – [Automatic Download…

Request for Comments 2016 – FRB – federalregister.gov/documents/2016/06/14/2016-14005/enhanced-prudential-standards-for-systemically-important-insurance-companies To support this study and Report, FIO has consulted extensively with various stakeholders. On October 17, 2011, FIO published a notice in the Federal Register asking the public to submit comments on the considerations and factors listed in Title V: • Systemic risk regulation with respect to…

Sandbox – Government Hearings 1985 0617 – GOV (House) – Options Market and the National Market System House – Committee on Energy and Commerce – Subcommittee on Oversight and Investigations An interesting question arising in third-party guaranteed defaults is what happens when the guarantor collapses When the letter-of-credit bank or insurance company goes under, or…

Market Moving Information Change no Damage?? I have heard that the designation process is not transparent, and I am all for increased transparency, but I assume the Council must balance transparency against disclosing confidential or potentially market-moving information. (p37/2:08) — Senator Elizabeth Warren (D-MA) 2015 0325 – GOV (Senate-Banking) – FSOC Accountability: Nonbank Designations -…

Law – Sandbox Vanessa Anderson v. Wilco Life Insurance Company Court of Appeals for the Eleventh Circuit Date Argued: July 2nd, 2021 Duration: 29:27 Docket Number: 20-13482 https://www.courtlistener.com/audio/77208/vanessa-anderson-v-wilco-life-insurance-company/ Case Name: LSCC LLC v. Wilco Life Insurance Company Case Number: 19-56075 Case Panel: WARDLAW, Choe-Groves, VANDYKE Hearing Location: Pasadena CA Hearing Date: 2020-08-13 https://www.ca9.uscourts.gov/media/video/?20200813/19-56075/ 17-17214 Edward…

Sandbox 1978 – Federal Trade Commission (FTC) – Life Insurance Buyer’s Guide – 12p 1983 – ACLI Revised Draft Life Insurance Buyers Guide, letter and Disclosure Model Regulation – 1983-1 523 – 27p 1993 – NAIC Life Insurance Buyers Guide – 5p – From Government Hearing. “When Will Policyholders Be Given the Truth About Life Insurance” 1996 -…

Run – Triggers Can’t Say Crisis in Confidence Disintermediation Reputational Risk Interest Rates Plenty of things could cause another run on insurance companies. A devastating earnings report or financial filing could set one off. So could comments from public officials. 2008 1114 – NYT – What Happens When Your Insurer Goes Under?, By Ron Lieber – [link]…

Premium Benefit Pattern – Examples The complications begin with a very simple question: What’s the premium for Universal Life? It could be almost anything. Then what’s the cash value? That depends on the premium. It is the relationship between the premium and cash value that determines the product characteristics of Universal Life. — Ben H.…