• Now we want to make sure that the consumers are treated fairly and reasonably and have sufficient information upon which to make a decision.  (p318)

--  James P. Corcoran. , Superintendent of Insurance, State of New York

  • 1984 -  {April 11, May 3, 10, June 28, September 13} - GOV - Competition in the Insurance Industry
  • There has been a failure on the part of the Judiciary to apply reasonable standards of fairness and equity while dealing with disputes against the insurance companies.

  • The end result is a policy that is extremely uncommunicative to the consumer.

--  Frederick W. Kilbourne

1981 - The Life Insurance Business---The View of Consumerists (rsa81v7n17), Society of Actuaries - Daphne Bartlett- Moderator - 16p

  • I do think that analogy could lead you to some very incorrect conclusions.
  • The principal one that I would address is the question of "honesty".
  • There are advertisements for back-end loaded Universal Life products which say things such as,

    "A product in which there is no expense charge to the persisting policyholder".

  • That language is artfully worded to convince the person who buys that there is no expense charge.
  • That is obviously not the case in actuarial pricing.
  • There are expenses and they will be amortized one way or another.

-- Thomas Eason

1983 - INDIVIDUAL LIFE INSURANCE, Society of Actuaries

  • LC - Walker vs LSW - One Fee 
  • _____________________  is concerned about defining the fair treatment of consumers as being different from or in addition to legally prescribed standards.

--  51. Global Federation of Insurance Association (GFIA)

--  52. American Property Casualty Insurance Association ((APCIA)