Fay v. Aetna

  • 2001 - LC - Fay v. Aetna  ---  [BonkNote]
    • 1:2001cv10846
    • Massachusetts District Court
    • 05/16/2001 - 03/17/2004
  • Donna Claire - Fay v. Aetna - You said you understood it
  • Docket - Pacer
    • 65 - 2003 0203 - LC - Fay v. Aetna - Doc 65 - Defendant Aetna Life Insurance And Annuity Company's Response To Plaintiffs' Separate Statement of Additional Undisputed Material Facts - 01-cv-10846 - 32p
      • 2003 0227 - LC - Fay v. Aetna - Doc 65 - William Hager - Deposition - Excerpt - Doc 65 - V1p1-46 - 01-cv-10846 - 1p
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        • Page 29 - Q. What did the committee do, then?
          • A The committee dealt with national insurance issues. Specific to this case, the committee dealt with issues relating to illustrations. Misrepresentations in illustrations during this period of time was a significant issue.
        • Page 31 - Q. In that effort in order to determine or articulate what problems in general there
          might be, would the committee review the insurance practices of specific companies?
          A. They might, though that would be, that would not occur with much frequency.

          • The tools to identify issues ranged from surveys of regulators, surveys of agents, for example, and for that matter, surveys of insurance companies.
          • In addition, it was not uncommon for insurance companies themselves, life insurance companies or the trade associations such as the American Council on Life Insurance to bring forward matters that they had, the industry itself had perceived in the marketplace and bring those issues forward for regulatory consideration.
        • Page 32 - Q. So when you say an issue, could an example of an issue be the types of  disclosures that are being made in illustrations?
          • A Yes.
          • Q. Was that in fact one of the issues that was reviewed?
          • A. Yes. In fact, while I was insurance commissioner, I oversaw a survey to that effect.
          • Q. As chair of the life insurance product development task force, you led the development of model disclosure statements for  ---  [Bonk: End of Excerpt]
          • [Bonk: CIDWG - Consumer Issues Disclosure Working Group - (A) - NAIC  ---  [BonkNote]]
            • 1990-1A, NAIC Proceedings - NAIC / LIMRA - Universal Life Disclosure Form Test Market Results - CIDWG -Consumer Issues Disclosure Working Group  ---  [BonkNote]  ---  10p
            • 1993 - NAIC - Policy Information for Applicant - Universal Life Policy - 3p
              • Life Insurance Disclosure Model Regulation - Appendix D
              • Located in: 1993 0525 - GOV (Senate) - When Will Policyholders Be Given The Truth About Life Insurance?, Howard Metzenbaum (D-OH)  ---  [BonkNote]
    • 2003 0203 - LC - Fay v. Aetna - Rebuttal Report of Mr. Affleck by Donna R Claire - 2001cv10846 - 22p
  • 20. Aetna does not dispute that Mr. Pflugfelder described the Policies as "permanent insurance."
    • He did so correctly, as Plaintiffs concede.
  • 21. Aetna does not dispute this paragraph, but adds that Plaintiffs never asked what the term "permanent insurance" means. - Page 6 of 32

2003 0203 - LC - Fay v. Aetna - Doc 65 - Defendant Aetna Life Insurance And Annuity Company's Response To Plaintiffs' Separate Statement of Additional Undisputed Material Facts - 01-cv-10846 - 32p

  • 1 Copies of the Affleck Report and Affleck Rebuttal are attached to the Affidavit of Mark E. Swirbalus in Support of Aetna Life Insurance and Annuity Company's Motion to Exclude Expert Testimony (the "Swirbalus Affidavit") as Exhibits "A" and "B," respectively.
  • Mr. Affleck states that using the term "permanent" is "deceptive" with regard to universal life insurance.  - [Mr. Affleck = Plaintiff Expert Witness]

2003 0203 - LC - Fay v. Aetna - Rebuttal Report of Mr. Affleck by Donna R Claire - 2001cv10846 - 22p

  • Whole (or universal) life insurance policies are considered permanent.
  • As long as you pay the premium, the policy is in effect.  (p32)

2015 Version - Consumer Action Handbook, published by USAGov, part of the U.S. General Services Administration’s (GSA) Office of Citizen Services and Innovative Technologies - 146p

  • A: William Hager -  Surveys would be to determine — lets take a regulatory survey.
    • Through a regulatory survey, we could efficiently determine and get a read through the regulators in all 50 states as to whether a particular matter, particular issue was in fact a nationwide issue that merited national attention or in fact whether it was a localized issue.
  • Q. So when you say an issue, could an example of an issue be the types Of disclosures that are being made in illustrations?
  • A. Yes.
  • Q. Was that in fact one of the issues that was reviewed?
  • A. Yes. In fact, while was insurance commissioner, I oversaw a survey to that effect.
  • Q. As chair of the life insurance product development task force, you led the development of model disclosure statements for....

2003 0227 - LC - Fay v. Aetna - Doc 65 - William Hager - Deposition - Excerpt - Doc 65 - V1p1-46 - 01-cv-10846 - 1p

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