1990s – NAIC – LIAC – Life Insurance (A) Committee – NAIC Proceedings Index 1990-1A Product Development Task Force ☐Policy Information Form for Applicants on Universal Life Policies (Attachment One)  ….453 ☐Consumer Disclosure Issues Working Group November 17, 1989 Report (Attachment Two) ………….463 ☐September 11, 1989 Report (Attachment Three) ……….464 ☐LIMRAs Universal Life Disclosure Form Focus Group…

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Illustrations – Snippets 1982-1, ACLI (American Council of Life Insurers) – NAIC Proceedings The American Council of Life Insurance (ACLI) presented a paper on cost disclosure for universal life products..,..Further, the policy summary should include a statement on the point at which the policy will expire based on the policy guarantees and the anticipated premiums shown in…

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FTC – Federal Trade Commission ftc.gov/ ftc.gov/legal-library Life Insurance MLM – Multi-Level Marketing / Pyramid Schemes Michael P. Lynch Michael Pertschuk Robert J. Mackay  1980 – Federal Trade Commission Improvements Act of 1980 – 4p [Public Law 96–252, 94 Stat. 374, May 28, 1980] [As amended through Public Law 98–620, November 8, 1984] 1919 – FTC…

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Product Development Task Force – (A) – NAIC Consumer Disclosure Issues Working Group of the Product Development (A) Task Force – NAIC Focus Groups FIRST: 1989-4 NAIC Proc. 673 / LAST: 1991-4 NAIC Proc. 604 1988-2 NAIC Proc. – Name Changed – John Montgomery (CA) suggested a change in the name … Changed name from…

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Cancer Insurance 1979 0613 – GOV (House) – , Claude Pepper House – Committee on Interstate and Foreign Commerce – Subcommittee on Health and the Environment The Subcommittee met to consider Chairman Pepper’s bill, The Senior Citizens Health Insurance Reform Act of 1979 1980 1029 – F.T.C. Assails Cancer Policies As a ‘Poor Buy’; Investigation…

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Duhaime v John Hancock 1999 – LC – Richard DUHAIME v. John Hancock Mutual Life Insurance Company Senator Howard M. Metzenbaum (D-OH) Decided: June 28, 1999, United States Court of Appeals, First Circuit No. 98-2139.  1:96-cv-10706 Pacer – Yes Duhaime, et al v. John Hancock Mutual, et al   8:1995cv01556 Florida Middle District Court 09/20/1995 03/27/1996…

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Q: Should the Insurance Industry Be Looked At? It is hard to fix a system that has not been analyzed.  (p14)  —  J. Robert Hunter (CFA) 2003 0506 – GOV (House) – Increasing the Effectiveness of State Consumer Protection – [PDF-123p, VIDEO-?]  My staff has conducted a major investigation of these issues. I must say today…

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Moratorium Moratorium Stay Contractual  State Courts (p16) – Willis B. Howard, Jr., NOLHGA – National Organization of Life and Health Insurance Guaranty Associations: I’d like to respond briefly to my honorable friend, Commissioner Bartlett. Dwight, the guarantee association system works, and it works well. Dwight K. Bartlett III, Maryland Insurance Commissioner: Are you going to tell…

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John Dingell John Dingell (D-MI) 1955-2015 – US House https://content.naic.org/sites/default/files/inline-files/cipr_home_130823_implications_industry_trends_final_5.pdf 1990 02 – GOV (House – Report) –  Failed Promises: Insurance Company Insolvencies – John Dingell (D-MI) – [PDF-81p] House – Committee on Energy and Commerce – Subcommittee on  Oversight and Investigations 1994 10 – GOV (House Report) – Wishful Thinking: A World View of Insurance…

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Antitrust We would have been subject to antitrust action had we tried to develop that in the profession alone; they had to be in the regulation. Departure from the past practice of avoiding antitrust laws can only happen when the regulators take the lead. The ASB cannot make these changes by itself.  —  Frank S.…

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