Silences

  • govinfo.gov - Search - "Life Insurance"
    • GAP
      • 1982 0310 - GOV (House) - Part 2 - Department of Housing and Urban Development--independent agencies appropriations for 1982. Veterans Administration.
      • 1993 0202 - GOV (House) - Management of Department of the Interior Programs, Serial No. 103-2 
  • Senator Jake Garn - 1980s
    • Nonbank ,Integration of Financial Services
    • 1983 0406 - GOV (Senate) - Jake Garn (R-UT)
      • nothing - govinfo, cspan, 
      • 1983 0412 -TO: NAIC, FROM: Heron Burchette Ruckert Rothwell, SUBJECT Legislative Update, 332-104304-1983-1984 - SG - 407p
        • Integration of Financial Services - On Wednesday, April 6, the full Senate Banking Committee chaired by Jake Garn (R-Utah) began the first of series of hearings to explore the competitive structure of the financial services industry.
        • Testifying on behalf of the Administration was Treasury Secretary Donald Regan who began his statement by applauding Comptroller of the Currency Convers decision of Tuesday to impose moratorium until January 1984 on the creation of nonbank banks.

Let us continue the exploration of the question of how one can learn to hear silence. 

--  Noisy Silences: Stories Not Told (Chapter 9, p264)

2009 - Book - Working the Past, Narrative and Institutional Memory, Charlotte Linde

  • (p1189) - New York Senator Augustus Schoonmaker Jr. (14th)
    • – Mr. President, just one single suggestion.
      • Here was an institution (this bank) fearfully insolvent.
      • It now appears - at any rate, the testimony is offered to show that another corporation (an insurance company, also insolvent), became complicated.
      • Now, one question before the Senate is, what influences were at work about these institutions?
        • What prevented an investigation?
      • Those are fair subjects for our consideration.

1877 0723 - New York Senate - Testimony Taken Before the Senate Committee on Charges Against De Witt O. Ellis, Superintendent of the Banking Department - [PDF-1557p-GooglePlay]

  • New York Times - "Indexed Universal Life" - "IUL"
  • No Insurance Inspector General
  • FRB - Insurance Sales Activities and Consumer Protection in Sales
    of Insurance
  • FRB- Bank Holding Company Supervision Manual - page - 

AIG

  • Peter Adamczyk
  • Bill Dooley
  • Craig Mitchell
  • Win Neuger
  • Michael Rieger

  • Fatal Risk: Cautionary Tale of AIG's Corporate Suicide, By: Roddy Boyd (Bonk: 08282021)

  • Universal Life Insurance - GOV - Hearings
    • govinfo.gov - Congressional Hearings - 7 results
  • GMP Nonforfeiture Test  - 4 results, including 2 BonkNote
  • Some of my colleagues may take issue with this opinion but there are literally thousands if not millions of examples of where market forces have failed to prevent abuses.1
  • The admitted misbehavior of several prominent life insurers and their agents in the 1980s involving the sale of universal life insurance products is just one of many of these examples.  (p44)
  • The regulation of certain life insurance, annuity and health insurance products do warrant special discussion.
  • Through the years, there have been periodic problems
    with the sale and representation of certain more complex life/annuity products, such as universal life policies, and variable life and variable annuity products, among others.
  • Other products can be complex, such as Long Term Care (LTC) policies and hybrid life-LTC products.
  • I discuss these issues and NAIC/regulatory responses in
    greater detail in the second edition of the text I wrote for the NAIC—A Regulator’s Introduction to the Insurance Industry (NAIC: 2005).  (p48)

--  Prepared Statement of Robert W. Klein, Ph.D, Director of the Center for Risk Management and Insurance Research, Georgia State University, July 18, 2006

2006 0718 - GOV (Senate) - Perspectives on Insurance Regulation - [PDF-58p, VIDEO-Senate-error] - <mp3, mp4> - R-yes

  • They <NAIC> just cannot.
  • You know, they <NAIC> cannot agree on what the reserving requirements will be on universal life insurance policies, or when they do agree, they cannot get all of the States to go along, and that is the frustration, I think, Commissioner Bell and all of the commissioners have always had with the NAIC.  (p35)

--  Condron Christopher M., Chairman of the Board and Chief Executive Officer, AXA Equitable Life Insurance Company, on behalf of the American Council of Life Insurers <ACLI>

2006 1003 - GOV - THE NEED FOR INSURANCE REGULATORY REFORM - 163p

G. Criteria for Collaboration

  • The following questions are designed to assist states with the determination of whether an issue is appropriate for
    collaboration.
  • Regulators are encouraged to review these questions whenever there is an issue of concern raised that involves a regulated entity that does business in many states.

^^If there is not a reference available from the NAIC Research Library or NAIC Market Regulation Department, your concern is not likely going to impact other states.

2011 1207 - NAIC/FIO Meeting on Market Conduct

  • (Documents shared with FIO to facilitate discussion are attached) - 83p