Words – Page 18 – [BonkNote]

Business of Insurance McCarran-Ferguson Business of Insurance Regulatory Reform Act Dodd-Frank Act Michael McRaith 2022 0908 – GOV (Senate) – Current Issues in Insurance – Brown LC – Pireno Liqudation of Insurance Company Relationship Between Company and Insureds Supreme Court 2010 – Book – Regulating the Business of Insurance in a Federal System, By Joseph F.…

Leverage Walker v Life Insurance Company of the Southwest 3. Leverage in the financial sector. The pandemic stressed the resilience of banks, but they remain well capitalized. Leverage at broker-dealers also remains low. In contrast, measures of leverage at life insurance companies are at post-2008 highs….. (p7) 2020 11 – FRB – Financial stability report…

Pandemics 2020 05 – NAIC – Historical context of NAIC conversations surrounding disease outbreaks: A retrospective from the NAIC Proceedings – [PDF-22p] 2006 – Influenza Pandemic: The Impact on an Insured Lives Life Insurance Portfolio, Society of Actuaries References: Glezen, W. Paul: Emerging Infections: Pandemic Influenza. Epidemioplogic Reviews. Vol. 18, No. 1, 1996. Meltzer, Martin I.,…

COI – Cost of Insurance Until the buyer understands how the product works, attempts to compare price are essentially meaningless. 1972 – SOA – Life Insurance and the Buyer by Anna Rappaport, Society of Actuaries – 2p-Article Maybe we can jiggle a bit with our cost of insurance rates. — MichaeI R. Tuohy, [Bonk: Tillinghast] 1985 -…

Pricing Pricing, to the actuary, involves the determination of charges related to a set of benefits. — Robert P. Hill 1990 – SOA – Adequacy of Pricing Considerations, Society of Actuaries – 18p Abstract: Traditional life and health products have long been regarded as non-interest sensitive. Pricing has often been done with only a single…

Disintermediation Run Disintermediation of traditional life insurance is most severe for policies sold as savings instruments. — George R. Dinney 1982 – SOA – Programs to Conserve Traditional Life Insurance Policies, Society of Actuaries – 18p When a policyholder feels deceived, the disintermediation potential is enhanced. — Allen D. Booth, a consultant in the Milwaukee office of…

Liquidity Risk We have a committee within the ACLI that has been looking into the whole liquidity question, and on the basis of those discussions, I believe there is much more liquidity in the industry today. If I recall correctly, the biggest surprise came about 15 years ago, when the first discussions were held with…

Black Swans Nassim Taleb (p60) – David Schweikert – (R-AZ) – Are we going to wake up tomorrow and find out that the shadow on the horizon, the black swan was something that because of the concentration of the way you look at the world you completely miss? 2015 1208 – GOV (House) – Oversight of…

Shadow Banking Shadow Insurance fcic Geithner imf.org/external/pubs/ft/fandd/basics/52-shadow-banking.htm IMF – Shadow Banking: Out of the Eyes of Regulators – Many financial institutions that act like banks are not supervised like banks – 2p “Shadow Banking Risk Monitor” to “Non-Bank Risk Monitor” 2016 07 – FRB- Daniel K Tarullo: Opening remarks on the theme of shadow…

Inflation 8. The growth of interest-sensitive insurance products, such as universal life, spurred by a period of high inflation and historically high interest rates. 1984-1, NAIC Proc. 1981 – SOA – Inflation and General Economic Direction, Society of Actuaries – 28p 1982 – SOA – Investment Vehicles to Cope with Inflation, Society of Actuaries – 24p…