Words – Page 10 – [BonkNote]

Cost Benefit 1995 0308 – Regulatory Reform [VIDEO-CSPAN] Senate Governmental Affairs Committee members heard testimony from witnesses concerning regulatory reform issues, including whether cost/benefit analysis and risk assessments should be conducted before new regulations are put into effect.

SVL – Standard Valuation Law 820-standard-valuation-law II. Proposed Changes in the Standard Valuation Law Draft of November 20, 1972 1973-1, NAIC PROCEEDINGS lt may be of interest to convey some of the highlights, – – – excerpts of these communications follow: We could accept the judgment of many, but not all, financial experts that we…

Mark to Market Accounting 2012 0105 – OFR – A Survey of Systemic Risk Analytics – 165p (p19) – Sapra (2008) considers issues arising from historical and mark-to-market accounting for both insurance companies and banks. 2008 – AP – Do accounting measurement regimes matter? A discussion of mark-to-market accounting and liquidity pricing,” by Haresh Sapra,…

GAAP – Generally Accepted Accounting Principles First, let me remind you of the brief history of GAAP for life insurance companies. You will recall that the first exposure draft of the American Institute of Certified Public Accountants (AICPA) appeared in December, 1970. — John H. Biggs 1976 – SOA – Trends in GAAP and Statutory…

Guaranty Funds NAIC – Financial Condition Committee – (E) — [BonkNote] Guaranty Fund Issues Working Group – (E) – NAIC — [BonkNote] NCIGF – National Conference of Insurance Guaranty Funds – ncigf.org/ — [BonkNote] NOLHGA – National Organization of Life and Health Insurance Guaranty Associations — [BonkNote] (p515) – The working group identified several issues relevant…

GICs – Guaranteed Investment Contracts FABN – Funding Agreement-Backed Note GICS – AIG – FCIC GIA’s Guaranteed Interest Contracts Stable Value Unallocated Annuity Contracts 412(i) 1991 0903 – NYT – Worry Over Retirement Funds, By Eric N. Berg – [link] GIC’s, Executive Life, Mutual Benefit Also, you had a lot of different interests in Executive Life.…

Policyholder Options Many insurance contracts offer the policyowner options regarding premium payment, benefit patterns, and policy loans. This flexibility means that many different patterns of future cash flow could arise under the contract. (p6) 2002 09 – AAA – Fair Valuation of Insurance Liabilities: Principles and Method, American Academy of Actuaries – 48p The ACLI’s Dolan…

Liquidity vs Solvency Liquidity is a separate problem from solvency, but it can be equally serious. 1992 01 – SOA – The Actuary – A Possible Source of Low-cost Liquidity, by Irwin T. Vanderhoof, Society of Actuaries (p3) – 20p 2009 0305 – GOV (House) – Perspectives on Systemic Risk [PDF-254p, VIDEO-youtube-Part 1of 2 – Bad Copies] – <mp3,…

Advice Incidental Advice Thomas v. Metropolitan Life Insurance Company, Case No …Aug 31, 2009 — This policy was a variable universal life insurance policy. The Third … advice “solely incidental to” the conduct of business as a broker or dealer. … under the IAA if the advice they give is “solely incidental to” their broker activities and they receive…

Holding Company Bank Holding Company Act of 1956 MHC – Mutual Holding Company Orderly Resolution Authority SLHC – Savings and Loan Holding Company 2007 0611 – OTS – Office of Thrift Supervison Holding Company Report Of Examination of AIG – 52p 2010 0318 – GOV (House) – Insurance Holding Company Supervision – Paul Kanjorski (D-PA) Dots –…