Time
1970s – Actuarial – Snippets
1970s – Actuarial – Snippets The consumerists are having a fine time these days with the life insurance industry about which it seems there is nothing favorable to be said. A distinguished member of the Senate* is agitating for a “truth in life insurance” law and this provoked the following comment from one newspaper: “Probably…
Read More1950s – Actuarial – Snippets
Actuarial – Snippets – 1950s The approach in this paper is to follow the precept of the proverb “Better one picture than ten thousand words!” — by an actuarial proverb– “Better one ratio than ten thousand words!” — Arthur Pedoe 1952 – SOA – The Trend of Life Insurance Company Expenses, Society of Actuaries -…
Read More2000s – NAIC – Insurance Commissioners – 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,…
Read More1980s – Congress – Snippets
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…
Read More1980s – Actuarial – Snippets
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…
Read More1980s – NAIC – Insurance Commissioners – Snippets
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.…
Read More1980s – ACLI – Snippets
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…
Read More1970s – 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 More1970s – 1980s – LIBG – Life Insurance Buyer’s Guide – Wisconsin
1970s / 1980s – LIBG – Life Insurance Buyer’s Guide – Wisconsin Wisconsin Task Force William SNELL. Northwestern Mutual – In Wisconsin in July 1977, the state held a hearing on the NAIC Model Life Insurance Solicitation Regulation. Most people present suggested that it be adopted. Nothing happened until May 1978, when a new regulation…
Read More2020s – Newspapers
2020s – Newspapers 2022 0709 – Times of San Diego – Opinion: California Class-Action Lawyers Now Targeting Life Insurance Industry, by Tiger Joyce (President of the American Tort Reform Association (ATRA) – [link] 2022 1007 – WSJ – Private Equity’s Pension-Plan Takeovers Face Backlash Some lawmakers say the transfer of pension liabilities to private equity-linked insurers puts…
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