SandBox

What Does That Mean? COP – 1st Hearing – Twin Peaks, Reputational Risk, Who? Rep. <Michael> Goschka: I will remember various speeches given by ……..—and Nelson Saunders—when he was here (laughter). (p18) Rep. <Mary Lou> Parks: When the Representative mentioned Nelson Saunders, I said yes, when he was here he was a bad dude. (p19)…

SB-Clarify P1 ->SIV->P2 or P1->P2->SIV What is Universal Life? Who wanted Universal Life? Life Insurance as an Investment 20. Aetna does not dispute that Mr. Pflugfelder described the Policies as “permanent insurance.” He did so correctly, as Plaintiffs concede. 21. Aetna does not dispute this paragraph, but adds that Plaintiffs never asked what the term…

SB-Legal Cases Using UL as ART Wiener v. AXA Equitable Life Ins. Co. – 16 Civ. 04019 (ER) – 03-15-2019 Windham v. Cook Life Insurance Litigation Testifying expert valuing policy performance of a variable universal life insurance contract used in a tax planning program. Expert report and trial testimony provided. Arroyo v. Alexander & Alexander…

SB-Premium WHEN IS A PREMIUM NOT A PREMIUM? – Richard Weber 199x, NAIC – VP – only problem is … LC – Johnston and Johnston v Conseco – Judge LC – any of them 1985 – JIR – Universal life: taxation and the actuarial concept of life insurance – 10p

Sandbox – AIG https://ypfsresourcelibrary.blob.core.windows.net/fcic/fcic-testimony/2010-0630-AIG-Risk-Management.pdf Frank P. Filipps https://www.actuaries.asn.au/Library/Events/SUM/2013/4b-Ferris.pdf FRB Coryann Stefansson – Now SIFMA 2:15:28 – Carolyn Maloney: bad regulatory decision? – Liddy: yes all life insurance companies would have been in trouble… asset prices….capital markets 2009 0318 – AMERICAN INTERNATIONAL GROUP’S IMPACT ON THE GLOBAL ECONOMY: BEFORE, DURING, AND AFTER FEDERAL INTERVENTION – aka Federal…

SB – Outside Thomas S Kuhn The Hidden Factor Either you repeat the same conventional doctrines everybody is saying, or else you say something true, and it will sound like it’s from Neptune. — Noam Chomsky To reject one paradigm without simultaneously substituting another is to reject science itself. What man sees depends both upon…

SB – Board Joint Special Committee on Life Insurance Costs Hart EJM 1974 – Analysis of Life Insurance Cost Comparison Index Method. Society of Actuaries 1974 – Philosophies in the computation and dissemination of dividend illustrations, Society of Actuaries (Committee on Cost Comparison Methods and Related Issues (Special) – 85 pages

P1P2 P1P2 – Grid P1P2 – Actuarial P1P2 – Legal Case – Maloof v John Hancock P1P2 – NAIC P1P2 – NAIC – Life Insurance Buyer’s Guide Start – Policy Cash Flow Mechanics P1->P2->SIV P1->SIV->P2 Roger Strauss (Iowa) said a fundamental issue was that the consumer realize that the premium is being paid from someplace. …

Silences govinfo.gov – Search – “Life Insurance” GAP 1982 0310 – GOV (House) – Part 2 – Department of Housing and Urban Development–independent agencies appropriations for 1982. Veterans Administration. 1993 0202 – GOV (House) – Management of Department of the Interior Programs, Serial No. 103-2 Senator Jake Garn – 1980s Nonbank ,Integration of Financial Services…

Finding Aids Actuarial soa.org/ Federal Government Hearings c-span.org/ Google Play govinfo.gov COP – No Finding Aid Availabe FCIC – Finding Aid for the Records of the Financial Crisis Inquiry Commission

Q: What Does That Mean?

SB-Clarify

SB-Legal Cases

SB-Premium

2008 Financial Crisis – AIG – Congress

SB – Outside

SB-Board

P1P2

Silences

Finding Aids