NCSL – National Conference of State Legislators

2009 1001 – State Legislatures Magazine – Right to regulate: amid claims the federal government should oversee insurance companies, state lawmakers say consumers are better off with them in charge, by Heather Morton – thefreelibrary.com/_/print/PrintArticle.aspx?id=211631674

  • The Council of State Governments (CSG), National Conference of Insurance Legislators (NCOIL), and National Conference of State Legislatures (NCSL)-organizations of state officials devoted to sound insurance public policy-are writing to tell you why we believe that the protection of insurance consumers should continue to be based exclusively at the state level.

2009 0901 – Letter – NCOIL,CSG, NCSL to GOV (Dodd, Frank, Shelby, Bachus) – 2p

North Carolina

  • Richard Burr – (R-NC)
    • 2005-Current (as of 2022) – US Senate
    • 1994-2005 – US House
  • Tony Higgins
    • ?-1993-? – North Caroline Insurance Commission..
    • 1993-2, NAIC Proceedings
      • Tony Higgins (N.C.) referred the group to a resolution of the National Conference of Insurance Legislators (NCOIL) urging state insurance departments to become aware of disclosure and abuse issues in life insurance solicitation (Attachment Six-A2).
  • David Massey
    • ?-2011-? – NASAA President and North Carolina Deputy Securities Administrator
      • 2011 0712 – GOV (Senate-Banking) – Enhanced Investor Protection After The Financial Crisis, Senator Tim Johnson, (D-SD)  —  [BonkNote]
        • (p61) – Prepared Statement of David Massey – NASAA President and North Carolina Deputy Securities Administrator
  • Patrick McHenry – (R-NC)
    • 2005-Current (as of 2022) – US House
  • Mel Watt – (D-NC)
    • 1993-2014 – US House
    • 2014-2019 – Director of the Federal Housing Finance Agency 
      • FSOC
  • G.S. 58-58-22 and 58-58-23 codify existing regulations and industry practice concerning universal life insurance, variable life insurance, and standard provisions of individual life insurance policies, annuities, and pure endowment contracts.

https://www.ncleg.gov/documentsites/legislativepublications//Legislative%20Analysis%20Division/Summaries%20of%20Substantive%20Ratified%20Legislation/Summaries%20of%20Substantive%20Ratified%20Legislation%20for%201995.pdf

  • 1999 0625 – GOV (House) – Risky Business in the Operating Subsidiary: How the OCC Dropped the Ball – [PDF-106p,
    • (p71) – Richard Burr. (R-NC) – Let me ask you-  … You said in your testimony-I want to be accurate-that the scripts that you referred to by First Union were technically right, but not meaningfully revealing of nonexistence of FDIC insurance.
      • What do you mean? What’s technically right, but not meaningful?

State vs. Federal Regulation

  • 2005 0211 – CRS – Insurance Regulation: History, Background, and Recent Congressional Oversight (RL31982) – 32p
    • (p2-Summary) – This report provides the historical background for examining the arguments in this debate. It shows that state regulation of insurance is largely a historical artifact,…
  • Now, consumers don’t care who regulates insurance.
    • We really don’t care if it is Federal or State.
    • But we do care if it is any good, and it isn’t good today.

—  Statement of J. Robert Hunter, Director of Insurance, Consumer Federation of America

2007 1030 – GOV (House) – Additional Perspectives on the Need for Insurance Regulatory Reform, Paul Kanjorski (D-PA)  —  [BonkNote]

  • There are many company people as well as regulators who will privately tell you that federal regulation is coming in five years or 10 years.

—  Robert J. Callahan

1990 – SOA – Surplus Management, rsa90v16n25 – Society of Actuaries – 28p

  • 1905 08 – LR – The Federal Regulation of Life-Insurance, by James M. Beck, The North American Review, Vol. 181, No. 585, pp. 191-201 – 11p
  • 1905 – AP – Federal Supervision and Regulation of Insurance, by Solomon S. Huebner – [link-jstor-28p]
  • 1927 – AP – Federal Versus State Jurisdiction in American Life The Annals of the American Academy of Political and Social Science, Vol. 129 – 7p
  • 1981 – SOA – Insurance Regulation Policy Issue — Federal vs. State, rsa81v7n211 – Society of Actuaries – 14p
  • 1987 – LR – The McCarran-Ferguson Controversy: Should Problems In State Regulatory Departments Trigger Federal Reform?, by Jeffrey L. Schrader – 13p
    • 1977 – DOJ – The Pricing and Marketing of Insurance: A Report of the U.S. Department of Justice to the Task Group on Antitrust Immunities – [PDF-372p-GooglePlay]
  • 1991 – AP – Going National: The Life Insurance Industry’s Campaign for Federal Regulation after the Civil War, by Philip L. Merkel, The Business History Review, Vol. 65, No. 3, Financial Services (Autumn, 1991), pp. 528-553 (28 pages), Published By: The President and Fellows of Harvard College – JSTOR
  • 1995 – JIR / NAIC – Diversity of State Valuation Laws and Regulations, by Kenneth W. Faig, Jr, Polysystems – 22p
  • 1999 – SOA – Small Companies & Federal vs. State Regulation, stn-1999-iss14-hill – Society of Actuaries – 3p
  • 2006 08 – AP – Benefits of Multi-Jurisdictional Regulation of the Life Insurance Industry: Fact or Fiction? •American Risk and Insurance Association (ARIA) Annual Meeting Washington, DC, McShane, M. K. and Cox, L – 56p
    • Debates about state versus federal regulation of the insurance industry are as active and cogent today as ever. Few researchers have rigorously investigated whether the current state-based regulatory system provides benefits that offset the high costs of multi-state compliance.
  • If we want to address the problems in the insurance industry, I strongly urge that a federally chartered insurance corporation be set up, along the same lines of the FDIC, to monitor this industry. 
  • Indeed, if you think that the property/casualty crisis is difficult, I can assure you that the same crisis will come home, in spades, with the life insurance industry in approximately three to five years and it is not too late to address that crisis . (p761)

—  1986 0225 – Letter – Michael A. Hatch, State of Minnesota, Department of Commerce

1985 1986 – GOV (Senate) – The Cost and Availability of Liability Insurance for Small Business – [PDF-1163p-GooglePlay-link]

  • On state vs. federal regulation in the U.S., I have no position.
    • I am an insurance professor, not a political scientist.
    • State regulation has serious shortcomings, but I do not know if federal regulation would be any better.

—  Joseph Belth

1981 – SOA – The Life Insurance Business–The View of Consumerists, Daniel F. Case, Moderator, Society of Actuaries (rsa81v7n38) – 18p

  • While insurance should remain state regulated, there is certainly a role for the Federal Government to play in concert with the State insurance departments and the NAIC.
    • The NAIC proposed this statute because the Federal Government has unequaled clout, reach, and investigatory and law enforcement resources.
    • The State insurance departments are ready and willing to investigate and prosecute insurance fraud, often in cooperation with Federal law enforcement agencies.

—  Earl Pomeroy, NAIC / North Dakota Insurance Commissioner

1994 0421 – GOV – Insurance Fraud – Congressional Record (Volume 140, Number 45) – [link]

  • 3. H.R. 1290
    • Bob Mackin (NCOIL) expressed concerns about the various industry and related groups that have publicly supported H.R. 1290.
    • Assemblyman Lasher said that NCOIL and NAIC should present a coordinated effort to oppose the legislation for the best interest of insurance consumers.
    • Director McCartney noted that consumer groups generally agree that H.R. 1290 does not offer any consumer protection.
    • The members agreed to continue to coordinate their efforts to defeat the federal legislation that would preempt state regulation of insurance.

1993-2, NAIC Proceedings

H.R.1290 – Federal Insurance Solvency Act of 1993103rd Congress (1993-1994) – congress.gov/bill/103rd-congress/house-bill – [link]

Pennsylvania

  • Joel Ario
    • Former Pennsylvania Insurance Commissioner and Former Oregon Insurance Administrator
  • Herbert Denenberg
    • 1971- ? – Pennsylvania Insurance Commissioner
  • Paul Kanjorski (D-PA)
    • 1985-2011 – US House Member
  • J. Alan Lauer
    • Deputy Insurance Commissioner (PA), Actuary
    • 1983-1, NAIC Proceedings
      • As you know, revolutionary changes are taking place in the life insurance business.
      • To a large extent, these changes have passed regulators by, and have left the regulators in a position of trying to catch up.
    • 1985 – SOA – Actuarial Opinions On Asset-Liability Matching, Society of Actuaries – 24p
  • Arlen Specter (D/R/D-PA)
    • 1981-2001 – US Senator
  • Patrick J. Toomey (R-PA)
    • 1999 to 2005 – US House Member
    • 2011-2023 – US Senator
    • Derivatives, CFMA, 
    • 2022 0908 – GOV (Senate – Banking) – Current Issues in Insurance – [BonkNote]
      • Senator Patrick J. Toomey (R-PA): Let’s have Insurance companies stick to the Business of Insurance.
  • 1957 – GOV (Pennsylvania) – The Sale of Life Insurance By Mutual Savings Banks, Joint State Government Commission –  80p

Utah

  • Deseret News
  • MLM
  • Mormon
  • Jason Chaffetz (R-UT)
    • 2009-2016 – US House
  • Jake Garn (R-UT)
    • 1974-1993 – US Senator  
  • Orrin Hatch (R-UT)
    • 1977-2019 – US Senator 
  • Frank Moss – (D-UT)
    • 1959-1977 – US Senator
  • Tomasz Serbinowski
    • Utah Insurance Commissioner – Actuary
    • 2019 0528 – IULSG – IUL Illustration Subgroup – (A) – NAIC
      • [Bonk: Not in NAIC Proceedings]
      • Scott Harris – We really take exception to Birny’s characterization of misleading conduct. We’ll have the opportunity to comment and express our views. Also I just want to point the illustrations are, in fact, accurately demonstrating how the products function. To Birny’s point that the companies are doing what the model requires, so be it. The reality is the illustrations are demonstrating how the products function. We do agree that effective disclosure is important. We are interested in simplification of how products are illustrated. We want consumers to have the best information presented in a meaningful way.
      • Tomasz Serbinowski – Actuary (UT) – I think that’s completely disingenuous what was just said. That was the main purpose of the illustration, main purpose to show how the product works. ….{of 2% or 3%} rate. The whole issue is whether the values are realistic or not. And that’s why we had that whole discussion. It’s not that the companies want to show how the features and how the product works. I disagree with that comment. If that was that the main objective, then we would have no problem agreeing on illustrating the future at a much lower value.
  • Robert E Wilcox
    • ?-1994-? –  Utah Insurance Commissioner
      • 1990s – NAIC – Chairman of the Life Disclosure Working Group
  • 1988 1020 – Letter – To: Commissioner Harold C. Yancey, From: John M. Coomans, Date: October 20, 1988 – Subject: Proposed disclosure statements for interest sensitive products
  • (p680) – 2. The guaranteed ending date of the policy.
    • A statement which says: Based on guaranteed interest rates, guaranteed mortality charges and the payment of the scheduled premiums, coverage will end on-——-
    • RoseMarie is insisting that the Policy Schedule Page identifies the date when the policy will lapse based on paying the planned premium and guaranteed assumptions of interest and mortality rates.
  • (p889) – Verbal misrepresentation by omission involving these products occurs frequently.
    • It is assumed that the disclosure statements will be presented under the heading of Statement of Policy Cost and Benefit Information, according to the NAIC Life Insurance Solicitation Rule.
    • RoseMarie is insisting that the Policy Schedule Page identifies the date when the policy will lapse based on paying the planned premium and guaranteed assumptions of interest and mortality rates.
    • She is returning policy filings that do not clarify this.
      • She is doing this based on 31A-21-301 UCA, which refers to disclosing the beginning and ending dates of insurance protection.
      • RoseMarie Parkinson 

Consumer Disclosure Issues Working Group of the Product Development (A) Task Force

1989-1, NAIC Proc. (p673) – [Letters/ Feedback]

  • UTAH-Appointed, at the Pleasure of the Governor
    • Commissioner of Insurance Todd E. Kiser 12/20/2012 incumbent
    • Commissioner of Insurance Neal T. Gooch 5/24/2010 12/20/2012 2 7
    • Acting Commissioner of Insurance Neal T. Gooch 1/19/2010 5/24/2010 0 4
    • Commissioner of Insurance Donald Kent Michie 1/5/2005 1/19/2010 5 0
    • Commissioner of Insurance Merwin Stewart 2/8/1997 1/5/2005 7 11
    • Commissioner of Insurance Robert E. Wilcox 1/1/1993 2/7/1997 4 1
    • Commissioner of Insurance Harold C. Yancey 10/1/1985 1/1/1993 7 3
    • Commissioner of Insurance Roger C. Day (Died 7/18/2019) 6/1/1977 10/1/1985 8 4

North Dakota

  • Byron Dorgan (D-ND)
    • 1981-1992 – US House
    • 1992-2011 – US Senate 
  • Thomas Foley
    • Insurance Commissioner -?
    • ?-1998-? – – North Dakota 
    • ?-2000-? – – Kansas – Life and Health Actuary 
    • Year-? – Robert Dineen Award
  • Adam Hamm
    • 2007-2016 – Insurance Commissioner 
  • NORTH DAKOTA-Elected; 4-Year Term
  • Commissioner of Insurance Jon Godfread 1/3/2017 incumbent
  • Commissioner of Insurance Adam Hamm 10/9/2007 12/31/2016 9 2
  • Acting Commissioner of Insurance Rebecca Ternes 9/1/2007 10/9/2007 0 1
  • Commissioner of Insurance Jim Poolman 1/1/2001 9/1/2007 6 8
  • Commissioner of Insurance Glenn Pomeroy 1/1/1993 12/31/2000 7 11
  • Commissioner of Insurance Earl Pomeroy 1/1/1985 1/1/1993 8 0
    • Congress – 1993 to 2011
  • Commissioner of Insurance Jorris O. Wigen 1/1/1981 1/1/1985 4 0
  • Commissioner of Insurance Byron Knutson 1/1/1977 1/1/1981 4 0
  • 1970 – LR – The Life Insurance Law in North Dakota, by John A. Zuger – 49p
    • An insurance contract is to be construed according to the sense or meaning of the words that are used in the contract.
    • The language of a contract shall be used to govern its interpretation if the language is clear, explicit and does not involve an absurdity.151
    • Words are to be understood in their ordinary and popular sense rather than according to their strict legal meaning unless used by the parties in the technical sense or unless special meaning is given them by usage, in which the latter must be followed.152 
    • If the language used reasonably raises a doubt as to its meaning, the doubt will be resolved against the insurer who wrote the contract but the language should not be strained to impose liability upon an insurer.
    • If the language is ambiguous and will aas reasonably support an interpretation to impose liability as one which will not, the former interpretation will be adopted. 153

Ohio

  • 6th Circuit Court of Appeals
  • Joyce Marie Beatty (D-OH)
    • 1999-2008 – Ohio House of Representatives 
    • 2013-Current (as of 2023) – US House
      • H.R. 5059, the State Insurance Regulation Preservation Act
  • Sherrod Brown (D-OH)
    • 1975-1991 – Ohio state representative
    • 1983-1991 – Ohio Secretary of State
    • 1993-2007 – US House, U.S. House of Representatives from Ohio’s 13th district
    • 2007-2025 – US Senator
      • Chair of the Senate Banking Committee 
  • Richard Cordray 
    • 2009-2011 – Ohio Attorney General – January 8, 2009 – January 10, 2011
    • 2012-2017 – CFPB – 1st Director of the Consumer Financial Protection Bureau – January 4, 2012 – November 24, 2017
  • Bob Hackett (R-OH)
    • 2009-Current (as of 2022) – Ohio State Senate
    • (Chair of) Insurance Committee
    • 2020 12 – NCOIL – 30 Day Materials and Tentative General Schedule, NCOIL Annual Meeting, December 9 – 12, 2020 – 220p
      • Senator Bob Hackett (R-OH) – stated that one of the problems that the life insurance industry has been experiencing for several years is that when universal life was sold years ago interest rates were so much higher and these policies are really going to blow up much earlier.  (p165)
  • Marcy Kaptur (D-OH)
    • 1983-Current (as of 2023) – US House 
  • Howard Metzenbaum (D-OH)
    • 1974, 1976-1995 – US Senator
      • 1993 0525 –  GOV (Senate) – When Will Policyholders Be Given The Truth About Life Insurance?, Senator Howard Metzenbaum (D-OH)  —  [BonkNote]
    • 1943 to 1951 – Ohio House of Representatives and Senate
  • Michael Oxley (R-OH)
    • 1981-2007 – US House
    • Insurance Regulation and Competition for the 21st Century, Michael Oxley (R-OH)
  • Don Pease (D-OH)
    • 1977-1993 – US House
    • 1985 0719 Impact of Tax Reform on Insurance Industry, Pete Stark (D-CA)  —  [BonkNote]
      • Witnesses testified on the effects that President Ronald Reagan’s proposed tax reform will have on the Life insurance industry.
  • Insurance Department
  • Harold Duryee
    • 199x – NAIC – Illustrations Model Act – we don’t have problems
  • Judi French –
  • Noel Morgan
    • Ohio Insurance Department
    • 1993-1, NAIC Proceedings – (p251) – Noel Morgan (Ohio) also asked what percentage a field agent was allowed to use in an illustration and Mr. Nelson responded that it could not be larger than what was currently being paid, but in a declining market that may not be a valid projection of future results.
      • Robert Nelson – an insurance agent from Nebraska who is chair of the National Association of Life Underwriters Sales Illustrations Task Force (NALU)
  • Michelle Rafeld
  • Pete Weber

Appointed, at the Pleasure of the Governor; Confirmed by the Senate

Judi French – 2021 – Current (as of 2025)

Director of Insurance Jillian E. Froment 3/31/2017 incumbent
Lt. Governor/Director of Insurance Mary Taylor 1/10/2011 3/31/2017 6 2
Director of Insurance Mary Jo Hudson 1/8/2007 1/10/2011 4 0
Director of Insurance Ann Womer Benjamin 1/6/2003 1/8/2007 4 0
Interim Director of Insurance Holly Saelens 11/29/2002 1/6/2003 0 2
Director of Insurance Lee Covington 5/7/1999 11/29/2002 3 6
Interim Director of Insurance Alan Berliner 4/1/1999 5/7/1999 0 1
Interim Director of Insurance David Meyer 1/1/1999 4/1/1999 0 3
Director of Insurance Harold Duryee 3/1/1991 1/1/1999 7 10
Interim Director of Insurance Dana Rudmose 1/1/1991 3/1/1991 0 2
Director of Insurance George Fabe 3/1/1983 1/1/1991 7 10
  • 2001 0621 – GOV (House) – Insurance Product Approval: The Need for Modernization
    • [PDF-208p, VIDEO-?] – <mp3, mp4> – R
    • Lee Covington – OH Insurance Commisioner / NAIC
    • Speed to Market
    • House – Committee on Financial Services – Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
  • Ed FEIGHAN (D-OH):  Well, if insurance is viewed as an investment by the majority of Americans, that’s the result of its portrayal over several decades by the industry.
  • Robert HUNSTAD:  I can’t respond to that.  (p301)

1984 0411, 0503, 0510, 0628, 0913 – GOV (House) – Competition in the Insurance Industry – [PDF-759p-GooglePlay]

⇒  Robert Hunstand – senior vice president and actuary, Minnesota Mutual Life Insurance Co., on behalf of the American Council of Life Insurance (ACLI)

Illinois

  • Mike Christman (sp)
  • Larry Gorski – Illinois Insurance Department – Actuary
  • Michael T. McRaith
    • 2005-2011 – Illinois Insurance Commissioner – 3/21/2005 – 6/1/2011
    • FIO Director
  • John Washburn
    • 1983-1989 – Illinois Insurance Commissioner – 11/1/1983 – 9/1/1989
    • 1991 0227, 0507, 0509 and 0523 – GOV (House) – Insurance Company Solvency, (CSPAN) Insurance Company Insolvencies, Cardiss Collins (D-IL) —  [BonkNote] 
  • Melissa Bean – US House – (D-IL) – 2005-2011
  • Judy Biggert – US House – (R-IL) – 1999-2013
  • Cardiss Collins – US House – (D-IL) -1973-1997
  • Peter Fitzgerald – US Senate – (R-IL) – 1999-2005
  • Luis Gutiérrez –  US House – (D-IL) – 1993-2019
  • Don Manzullo – US House – (R-IL) – 1993-2013
  • Dan Rostenkowski – US House – (D-IL) – 1959 to 1995
    • 1981-1994 – Chairman of the House Ways and Means Committee
    • 1981-1982 – H.R.4242 – Economic Recovery Tax Act of 1981 – 97th Congress – Sponsor: Rep. Rostenkowski, Dan [D-IL-8]
    • 1996 – Prison – Congressional Post Office Scandal, pleaded guilty to charges of mail fraud in 1996 and was fined and sentenced to 17 months in prison. In December 2000, president Bill Clinton pardoned Rostenkowski.
  • Adolph J. Sabath – US House (D-IL) – 1907-1952
    • 1936 – GOV (House) – Investigation of Real Estate Bondholders’ Reorganizations – Adolph J. Sabath (D-IL)  —  [BonkNote]
  • In the Executive Life case in Illinois, the amount levied used up our capacity for 1991 and, as it turned out, it was a good thing we did because we had to use virtually all of our capacity again in 1992 because of additional insolvencies that hit Illinois harder than most other states — Inter-American for one, AMS Life for another.
  • There was about $200 million involved in just those two cases in Illinois.

—  Robert Ewald, not a member of the Society, is Executive Director of Illinois Life and Health Guaranty in Chicago, Illinois.

1993 – SOA – Rehabilitation Fallout, Society of Actuaries – 20p

  • (p40) – Don Manzullo – (R-IL)
  • Well, they didn’t even know about it.  [Bonk: re: Bernie Madoff]
    • Their own internal investigation showed that when the whistleblower had contacted the lower echelon at the SEC, that it never made it all the way to the top.
    • I guess my thought is, why didn’t that man who testified here contact a Member of Congress or somebody in the Banking Committee, because we could have kicked it upstairs right away and worked on it.

2009 1006 – GOV (House) – Capital Markets Regulatory Reform: Strengthening Investor Protection, Enhancing Oversight of Private Pools of Capital, And Creating a National Insurance Office – [PDF-325p

  • In December, the state insurance director Joseph Gerber (of whom there have been reports of collusion with Dorfman and Hopps) investigated Bray’s firm, Central Casualty.
    • In January 1962, Gerber announced that the firm was short one and one-half million dollars and shortly thereafter the firm was liquidated.

archives.gov/files/research/jfk/releases/docid-32329636.pdf