Snippets

2000s – NAIC – Insurance Regulators – Snippets (p81) – Thomas Foley said the working group had been charged to make amendments to the Life Insurance Disclosure Model Regulation – (Attachment Three-A) to be consistent with the Life Insurance Illustrations Model Regulation adopted in 1995. (p83) – Thomas Foley said that for a variable product,…

1990s – NAIC – Insurance Regulators – Snippets 1991 0717 – NAIC Testimony – Terence Lennon, New York Department of Insurance – 17p (p4) – Individual Products The most important feature of the new individual products was the unbundling or separation of the fund accumulation from the mortality function. In this way the consumer could be shown his…

1980s – Congress – Snippets 1980 0207 – Congressional Record – Senators Howard Cannon (D-NV), Howard Metzenbaum (D-OH), John Durkin (D-NH), re: FTC, McCarran-Ferguson Act – p2382 – congress.gov/bound-congressional-record/1980/02/07/senate-section (p2367-2368) – Senator Howard Cannon (D-NV) – Mr. President, at the time of the markup in the Senate Commerce Committee on the FTC bill, I held the…

1980s – Actuarial – Snippets Whenever you are working on something new and innovating, it is always a good idea to look back and see what the ancients called it. — Charles W. McMahon 1980 – SOA – Product Innovation – Response to Consumer Needs in the 1980’s, Society of Actuaries – 14p Some of our…

Congress – Snippets – 2009 (p5) – Senator Richard Shelby (R-AL): The causes of AIG’s collapse raise profound questions about the adequacy of our existing State and Federal financial regulatory regimes. 2009 0305 – GOV (Senate) – American International Group: Examining What Went Wrong, Government Intervention, And Implications for Future Regulation, (CSPAN) Government Intervention and Regulation of…

Congress – Snippets Congress – Snippets – 2009

CRS – Congressional Research Service – Snippets (p23) – Well, I think that—as you said, what happened is they moved from municipal securities into mortgage-backed securities, thinking that since, among other things, housing prices had never gone down in the United States, it should not be a problem. To a large degree it has really…

Project – NAIC – Snippets – 2013 24. Discussed Inconsistencies in Index-linked Universal Life Policy Illustrations John Bruins (ACLI) discussed the inconsistencies, across a number of companies, in the illustration of index-linked universal life policies. He said they would like the Task Force to consider an actuarial guideline or a change to a model regulation…

1980s – NAIC – Insurance Regulators – Snippets The FTC efforts to deter state action on life insurance cost disclosure, under the guise of assisting the states, when in fact, the game plan was to initiate an FTC regulation on the basis that the states failed to act, might be described as a federal fraud.…

1980s – ACLI – Snippets 1. Heard report by ACLI concerning life insurance cash flow and liquidity problems caused by recent financial instability. The report noted: (a) High interest rates caused cash outflow. (b) Forward investment commitments have been a source of cash drain while anticipated cash inflows have not materialized. (c) Few companies have…

2000s – NAIC – Insurance Commissioners – Snippets

1990s – NAIC – Insurance Commissioners – Snippets

1980s – Congress – Snippets

1980s – Actuarial – Snippets

Congress – Snippets – 2009

Congress – Snippets

CRS – Congressional Research Service – Snippets

Project – NAIC – Snippets – 2013

1980s – NAIC – Insurance Commissioners – Snippets

1980s – ACLI – Snippets