Snippets
1970s – NAIC – Insurance Commissioners – Snippets
1970s – NAIC – Insurance Regulators – Snippets (p1501) – John Durkin, New Hampshire Insurance Commissioner: As a starting point, there is little regulation of the life insurance industry by the States. The States do little with respect to life insurance regulations for many reasons, mainly because there are very few problems with complaints over…
Read MoreJudges – Snippets
Judges – Snippets Judges – 201x – LC – Walker v LSW, Life Insurance Company of the Southwest 2013 0905 – LC – Johnston & Johnston v. Conseco – 5th Circuit Court of Appeals – 13-30010 – Oral Argument – mp3 — [BonkNote] — [link-mp3-audio] 20 – Judge Carl Stewart – usually the Policy Due Date is…
Read More2020s – ACLI – Snippets
2020s – ACLI – Snippets 2020 0107 – WSJ – It’s the Hottest Thing in Life Insurance. Are Buyers Aware of the Risks? Regulators worry insurers are underplaying the dangers of a product tied to the performance of the U.S. stock market, by Leslie Scism – [link] One concern is that existing consumer materials “can lead…
Read More2010s – ACLI – Snippets
ACLI – 2010s – Snippets 2011 0422 – WSJ – AIG Tries to Sell Death-Bet Securities, By Leslie Scism – [link] The new wrinkle of securitization arose in the market’s boom years before the financial crisis. Just as Wall Street banks bundled mortgages to make mortgage bonds, financiers looked into bundling hundreds of life-insurance policies into…
Read More2000s – ACLI – Snippets
ACLI – 2000s – Snippets Michael Lovendusky (American Council of Life Insurers — ACLI) …. said the Unfair Trade Practices Act is the bedrock of market practices. 2001-1, NAIC Proceedings, Suitability Working Group Today, life insurers compete directly with non-insurance financial services institutions, such as banks and mutual funds. (p12) — William B. Fisher, Vice…
Read More1990s – ACLI – Snippets
1990s – ACLI – Snippets I’m going to discuss what Norm referred to as consumer disclosure forms. To date, no state has adopted these forms. Why this complete lack of action after all the effort in developing the forms? One possible reason is that, during the early part of the year, state insurance departments are…
Read More1970s – ACLI – Snippets
ACLI – Snippets – 1970s The most obvious, though not necessarily accurate, basis of comparison of policies of the same initial or minimum face value is the premium. (p41) 1976 0909 – Letter – ACLI to NAIC – RE: Proposed Changes to the NAIC Model Variable Life Insurance Regulation – 1976-1 – NAIC Proceedings – p623-…
Read MoreFTC – Federal Trade Commission – Snippets
FTC – Snippets Cash value policies differ from term insurance in three important ways. First, the premiums for a cash value policy are initially much higher than for term insurance for the same amount of insurance protection. Second, unlike the premiums for term insurance, cash value premiums do not go up with age, but remain…
Read MoreMetLife – Snippets
MetLife – Snippets Policyholder 1; I’m dropping my whole life policy with your company and replacing it with company x’s universal life policy. Agent 1: Universal life is not right for you, and I recommend retaining your present policy. Policyholder 2: I’m dropping my whole life policy with your company and replacing it with company…
Read MoreSEC – Securities and Exchange Commission – Snippets
SEC – Securities and Exchange Commission – Snippets [SEC Report] (p87) – William L. Cary, Chairman, Securities and Exchange Commission (SEC) – In its 23d annual report (1957) this Commission, describing its most pressing enforcement problems, included this statement: “Recent economic conditions have been relatively favorable for the sale of promotional stocks of new ventures,…
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