Words – Page 18 – [BonkNote]

COI – Cost of Insurance 2019 0917 – LIIIWG – Life Insurance Illustrations Issues Working Group – (A) – NAIC – COI – Cost of Insurance — [BonkNote] 2019 – ACLI – Cost of Insurance in the News – 16p Until the buyer understands how the product works, attempts to compare price are essentially meaningless. 1972 – SOA…

Pricing It’s tough to price in a very disciplined way when any fly-by-night company can come by and undercut you. Somebody could take a flier and come out with a product with a low rate and if it works out they benefit, if it doesn’t work out we pay the cost. — Michael Davlin 1985 -…

Disintermediation Run …disintermediation: That is, the decline of the life insurance industry as a savings medium. Disintermediation occurs: through lapsation, increasing policy loan utilization, the continuing shift towards term insurance as well as a wave of product replacements within the industry itself. It also occurs with a substantial opportunity cost as new savings dollars are…

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…

Games, Gimmicks and Tricks Why is this flimflammery allowed to continue? Where are the laws to prevent companies from misleading people? (p3) — Senator Howard Metzenbaum (D-OH) 1993 0525 – GOV (Senate) – When Will Policyholders Be Given The Truth About Life Insurance?, Howard Metzenbaum (D-OH) — [BonkNote] It is my recollection and understanding that AG 49 was created in…

Indexing

Capital Capital – Index Capital Formation Capital Markets Capital Standards ICS – Insurance Capital Standards RBC – Risk Based Capital 1981 – SOA – Effective Use of Capital, rsa81v7n14, Society of Actuaries – 26p 1981 – SOA – Effective Use of Capital, rsa81v7n312, Society of Actuaries – 24p 1987 – SOA – Sources of Capital…