AIG v Executive Life Insurance Company

  • 1991-1, NAIC Proceedings - 10. Special Report on Executive Life Companies
    • Jim Schacht delivered a special report on the Executive Life Companies.
      • He reported that since January 1990 a special committee has been addressing the situation with regard to Executive Life Insurance Companies.
      • It was noted that the financial evidence reveals that the company is in no imminent financial danger but that precipitous action by any state could create serious problems.
      • After much discussion a resolution that recommends that no state take precipitous action and urges all states to continue to cooperate was drafted and unanimously adopted.