Search results for: howard metzenbaum
Policy Transfers
Policy Transfers “These policy transfers treat policyholders like commodities, trading them like baseball cards,” Mr. Metzenbaum said in a statement. The acquiring companies are often “in such poor financial shape that they couldn’t attract policyholders but had to buy them wholesale, without their consent.” [Senator Howard Metzenbaum (D-OH)] 1994 0328 – NYT – Transfers By…
Read MoreCC – 1993 When and 2005 Military
CC – 1993 When and 2005 Military and 2022 Current Issues in Insurance Many insurance companies even have a way to get a consumer’s money without the consumer ever knowing about it. Most policies have a clause that allows the company, without telling the policyholder, to dip into the savings component of their life insurance…
Read MoreACLI – American Council of Life Insurers
ACLI – American Council of Life Insurers ACLI – Index ACLI – Legal Cases ACLI – Government ACLI – NAIC – 1980s ACLI – Snippets Benefits – ACLI Systemic Risk – ACLI 1975 The Institute of Life Insurance and the American Life Insurance Association merge to become the American Council of Life Insurance. The headquarters…
Read MoreTruth
Truth To quote from Josh Billings: ” Tis better not to know so much, than to know so much that ain’t so.” If life insurance truths have not been widely disseminated and assimilated, life-insurance untruths have. Lack of knowledge as to what is so about life insurance has been offset by excess information coined and…
Read More1991 0227, 0507, 0509, 0523 – GOV (House) – Insurance Company Solvency – Cardiss Collins (D-IL)
1991 0227, 0507, 0509, 0523 – GOV (Senate) – Insurance Company Solvency 1991 0227, 0507, 0509 and 0523 – GOV (House) – Insurance Company Solvency, (CSPAN) Insurance Company Insolvencies, Cardiss Collins (D-IL) — [BonkNote] [PDF-369p-GooglePlay, VIDEO-0509-CSPAN] ->Not on govinfo.gov – R <VIDEO-? – 0227, 0507 and 0523> House – Committee on Commerce, Science, and Transportation – Subcommittee on Commerce, Consumer…
Read MoreGuessing
Guessing The actuary cannot and should not attempt to estimate or predict the future. This would reduce actuarial work to guessing. ⇒ What then are actuarial assumptions? 1998 01 – SOA – Actuarial Futures – Actuarial Assumptions and the Future, by W. Harold Phillips, Society of Actuaries – 4p (p3) – Companies say: After 5…
Read MoreMisleading
Misleading Misleading Illustrations Why is this flimflammery allowed to continue? Where are the laws to prevent companies from misleading people? — Senator Howard Metzenbaum (D-OH) 1993 0525 – GOV (Senate) – When Will Policyholders Be Given The Truth About Life Insurance?, Senator Howard Metzenbaum (D-OH) — [BonkNote] (Northwestern Mutual Life: A Century of Trusteeship by…
Read MoreQ: Guaranty Fund – Who Pays?
Q: Guaranty Fund – Who Pays? Ultimately the public pays for everything. — Eden Safarty (President / NOLHGA – National Organization of Life and Health Insurance Guaranty Associations): 1991 0227, 0507, 0509, 0523 – GOV (Senate) – Insurance Company Solvency, aka Insurance Company Insolvencies – [PDF-369p-GooglePlay] ->Not on govinfo.gov – 0509-VIDEO-CSPAN] (p186) – Senator Howard Metzenbaum (D-OH).…
Read MoreACLI – Documents
ACLI – Documents SEC – REG BI – Year-? – ACLI – Analysis of ACLI Board Principles Against the SEC Best Interest Standard of Care Proposals – 5p 2007 1213 – Letter – ACLI – Submission in response to the RAND Study on Broker Dealer and Investment Advisory Issues – 13p 2010 0830 – Letter -…
Read MoreAssumption Reinsurance
Assumption Reinsurance Life and health insurers have greater opportunity to transfer a set of policies from one company to another, using a transaction known as “assumption reinsurance” (a confusing term for what amounts to the sale of a block of policies with the “consent”—sometimes constructive—of each policyholder).105 2021 – LR – Uncertainty > Risk: Lessons for…
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