Snippets
1990s – Prudential Insurance Company – Snippets
1990s – Prudential Insurance Company – Snippets I would say to all of you that if you think that you don’t have any customers or any agents who fail to understand what a nonguaranteed illustration really means, you’re kidding yourself. And if you don’t think that you have customers out there (which means agents also)…
Read MoreLawyers – Snippets
Lawyers – Snippets Now as usual, things that are prohibited can nonethelessbe done if you do them right. The way to do it is either comply with an exemptive rule or get an exemptive order. — W. Randolph Thompson, with the law firm of Jones & Blouchin Washington, will speak on some SEC issues 1993 -…
Read MoreDOTT – Department of the Treasury – Snippets
DOTT – Department of the Treasury – Snippets … the life insurance industry has developed new products that contain predominantly investment features similar to those offered by depository institutions. (p93) — William S. McKee, Tax Legislative Counsel, Department of the Treasury [DOTT] 1983 0311 – GOV (Senate – Committee on Finance) – Taxation of Financial…
Read MorePrudential Insurance Company – Snippets
Prudential – Snippets Prudential – Snippets – 1980s
Read MoreActuarial – Snippets
Actuarial – Snippets Actuarial – Snippets – 1950s Actuarial – Snippets – 1970s Actuarial – Snippets – 1980s Actuarial – Snippets – 1990s In a paper read before the insurance commissioners in June last Mr. D. P. Fackler said: Many have grave fears of bad results if the largest companies are allowed to continue to…
Read MoreGAO – Government Accountability Office – Snippets
GAO – Government Accountability Office – Snippets GAO – Government Accountability Office Most state insurance regulators generally only conduct investigations of insurance company sales practices when they receive customer complaints. Although some state insurance regulators review insurance companies’ product sales practices as part of market conduct reviews, few insurance products are subject to any suitability…
Read MoreFCIC – Financial Crisis Inquiry Commission – Interview – MP3 – Snippets
FCIC – Interview – MP3 – Snippets AIG – People – FCIC Interviews – mp3s Steve Benzinger – {Negative Basis – Cassano told us, we just didn’t know what it meant} Joe Cassano – {AIGFP was 40 Billion, Where did the rest go? Gary Gorton – {I wasn’t involved with Alan Frost, AIG SSCDS from…
Read MoreFRB – Federal Reserve Board – Snippets
FRB – Federal Reserve Board – Snippets 2003 0729 – FCIC – Letter – From FRBNY Frank P Sabato to Michelle Sims, Re report conducted by examiners for the Federal Reserve Bank of New York – 40p Some annuity products. however, contain benefit guarantees for which reserving practices are not well established. 5. A general…
Read MoreFCIC – Financial Crisis Inquiry Commission – Snippets
FCIC – Snippets 2008 0916 (9pm) – FCIC – KKR – Email from Tagar Olson Regarding AIG – 5p If you assume that the economic losses against the CDS book (estimated by Blackrock at $11-$18bn) and other under-reserved amounts/ questionable assets (the great unknown) are less than the value of their core insurance and other…
Read MoreULMR – Universal Life Insurance Model Regulation – 585 – NAIC – Snippets
ULMR – Universal Life Model Regulation – MDL-585 – NAIC – Snippets PAGE 1 Drafting Note: It is the position of the drafters of this regulation that universal life insurance is simply another competing type of life insurance which should be treated, to the extent possible, in the same regulatory manner as other life insurance…
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