Project – TimeLine 1871-1, NAIC Proc. Gustavus W. Smith, Kentucky Insurance Commissioner: While on this subject, I may allude to what I consider the great trouble in life insurance. It is, in my opinion, an undoubted fact that educated, intelligent, influential business men of this country, as a class, are utterly ignorant of what this…

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Project – TimeLine 1838 – Book – An Essay on Probabilities, and Their Application to Life Contingencies and Insurance Offices, by Augustus De Morgan It is of great importance at the present moment that sound principles on the subject of insurance should be widely and rapidly disseminated. Whether they act by producing conviction, or opposition, a step…

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Project – 2023 – Market Analysis Procedures (D) Working Group 4. Possible NAIC Recommendations for Amending the Uniform Securities Act  a. At the present time, the NAIC, including the Securities and Insurance Regulation Task Force, is studying the many “new-life” insurance products that are being sold by approximately 30 insurance companies. Simultaneously, the NAIC is…

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Projects – Outline Current Events – NAIC – 2023 – LIAC – My Question TO DO – Transcript – Pic –  NAIC – Market Analysis – NAIC – My Questions TO DO –  Transcript – Pic 2022 0908 – GOV (Senate) – Current Issues in Insurance, Sherrod Brown (D-OH)  —  [BonkNote] Private Equity Funds, Pension…

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Joe Biden 1973-2009 – US Senator (D-DE) 1987 to 1995 – Chaired the Senate Judiciary Committee  2009-2017 – US Vice President 2020-Current (as of 2024) – US President DOL Fiduciary Rule 1993 0525 – GOV (Senate) – When Will Policyholders Be Given The Truth About Life Insurance?, Howard Metzenbaum (D-OH)  —  [BonkNote] Senate – Committee on The Judiciary – Subcommittee…

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John Durkin John Durkin – (D-NH) 1968-1973 – New Hampshire Insurance Commissoner 1973 / 1974 – GOV (Senate) – The Life Insurance Industry, Philip Hart (D-MI) – 4 Parts  —  [BonkNote-Overview] 1973 0221 and 0222 – GOV (Senate) – The Life Insurance Industry – Philip Hart (D-MI)  —  [BonkNote-Part 2 of 4]  —  [PDF-733p-GooglePlay]  1975-1980…

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1990s – NAIC – Insurance Regulators – Government Hearings 1993 0525 –  GOV (Senate) – When Will Policyholders Be Given The Truth About Life Insurance?, Senator Howard Metzenbaum (D-OH)  —  [BonkNote] (p33) – NAIC – Statement of David Lyons (Iowa Insurance Commissioner (IA), On Behalf of the National Association of Insurance Commissioners  I also serve,…

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Change AIG – Name Changes / Mergers Change Without Damage    NAIC – Name Changes Times Have Changed The whole process started in the NAIC, as it had to. If radical changes in the way we illustrate policies were going to be made, they had to start at the NAIC. The NAIC was only too…

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Shock The flexibility of Universal Life that initially appealed to the policyholder which allowed him to change premium payments, coverages, etc., will make this annual report of the condition of his “account” an unanticipated shock. —  Dale W. Hotze, is President of Hotze & Associates Inc., Jacksonville, Florida.  1983 – SOA – Universal Life (rsa83v9n32), Society…

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Absurd  An insured has no right to rely upon an agent’s patently absurd interpretation of a policy. He ordinarily may rightfully rely, however, upon an agent’s interpretation that is plausible and not in patent conflict with the printed policy although legally untenable. Mutual Ben. Life Ins. Co. of Newark, N.J. *403 v. Bailey, 5 Storey…

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