Silences

FRB - Insurance Sales Activities and Consumer Protection in Sales
of Insurance

FRB- Bank Holding Company Supervision Manual - page

  • No Insurance Inspector General
  • GMP Nonforfeiture Test  - 4 results, including 2 BonkNote
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Universal Life Insurance - GOV - Hearings

  • govinfo.gov - Congressional Hearings - 7 results
  • 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
  • 1The 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

2006/07/18 - GOV - PERSPECTIVES ON INSURANCE REGULATION - 58p

  • 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