Dennis Ross
- Dennis Ross - (R-FL)
- 2011-2019 - US House
- 2000-2008 - Florida House of Representatives
- 2018 0311- InsuranceJournal.com - Ross vs. Schwarcz: Scoring the Throw-Down - [link]
- (p47) - Dennis ROSS (R-FL). There hasn’t been a run on life insurance, has there?
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- Are people all of a sudden going to go and cash in their life insurance policies?
- ⇒ Because if they are, then our serious consequences for economic structure are way out of line.
2015 1208 - GOV (House) - Oversight of the Financial Stability Oversight Council --- [BonkNote] --- [PDF-146p, VIDEO-YouTube]
- Ross: And yet, in the assessment of the SIFI designations, there are two experts, one a voting member in the insurance industry or arena, and two a nonvoting member, both of whom were ignored by the designations with regard to whether these insurance companies should be considered a SIFI. (p28)
2017 0328 - GOV (House) - The Arbitrary and Inconsistent Non-Bank SIFI Designation Process - [PDF-83p, VIDEO-YouTube]
- 2014 1118 - GOV (House) -The Impact of International Regulatory Standards on the Competitiveness of U.S. Insurers, Part II - [PDF-140p
- (p23) - Mr. ROSS. And, Senator, I just want to tell you, as a past boardmember of NCSL, and as a past member of NCOIL, I laud you for what you are doing.
- And I think the best impact we can have is at the State level to make sure that our constituencies understand the significance that when those rates go up—not because of an insurance commissioner, but because of an international standard—our methods of recourse are going to be severely limited.
- (p23) - Mr. ROSS. And, Senator, I just want to tell you, as a past boardmember of NCSL, and as a past member of NCOIL, I laud you for what you are doing.
2017 0328 - GOV (House) - The Arbitrary and Inconsistent Non-Bank SIFI Designation Process - [PDF-83p, VIDEO-YouTube]
- (p14) - Mr. KUPIEC (Resident Scholar, American Enterprise Institute):
- Yes, and the designations for the insurance companies, the way the FSOC makes it, is very unusual in that it treats the products of insurance companies as if they were bank deposit like liabilities that could be withdrawn, that people would line up and withdraw the residual value of their life insurance policies or whatever.
- And they are not bank deposit-like products, and there is really no evidence that there have been any institution-wide runs on all the various subsidiaries at any time in the past.
- So the story is a very fictional story that the FSOC uses to make the designation.
- (p29) - Mr. ROSS (R-FL). And so, has there ever been a run on an insurance company in the history of the United States?
- Mr. HOLTZ-EAKIN. No.
- One of the mysteries of this designation has been ignoring the history of successful regulation of insurance companies and also the use of scenarios which are completely unrealistic for that insurance business.