• The concern was not just with the "twisting" replacements, but was the impact of justified replacements on the solvency of replaced companies.

1982-2, NAIC Proceedings

  • Most life insurance companies, ·it is true, will cancel the contract of an agent found guilty of replacing a policy already carried in. his own or another coinpany, by a new policy and such a practice is usually referred  to as "twisting."  (p21)

1940, NAIC Proceeding


  • In the seventies, when life insurance companies in the  United States were passing through the crucible, all sorts of things were done which nowadays are denounced, at least, if not avoided entirely.
  • The trouble was that more than half the life insurance companies of the country were in a failing condition, and their only hope often was to diminish their liabilities by twisting policies from one form to another or to escape the liabilities in whole, or in part, by making an arrangement with another company to furnish it a list of the policyholders, so that it could do the twisting.
  • The four or five companies that were swallowed up in the Universal reached an apparent state of solvency in that manner.
  • They had some kind of an understanding.

1898 - Things Agents Should Know: An Intensely Practical Book for Life Insurance Agents - Miles Menander Dawson 

  • Sharp competition was developing among  companies and agents, the Massachusetts Commissioner complaining about agents besieging his office for information recommending their companies, or depreciating others," and the New York Superintendent protesting against agents'  commissions of from twenty-five to fifty per cent of  first premiums, which resulted in the selling of policies by any and all methods, followed by a sad lapse record.30
  • Complaints of "twisting" also began to arise during this year.31  (p138)

1920 - The History of LI  in the US to 1870: With an Introduction to Its Development Abroad, Charles Kelley Knight - 160p