Archive for December 2021
2016 – IAIS – Risk-based Global Insurance Capital Standard Version 1.0
2016 – IAIS – Risk-based Global Insurance Capital Standard Version 1.0 2016 0710 – IAIS – Risk-based Global Insurance Capital Standard, Version 1.0 – Public Consultation Document – Comments due by 19 October 2016 – 175p 4.1 Market adjusted valuation (MAV) approach – Comments – 276p 5 Capital resources – 149p 6.5 Management actions – Comments -…
Read MoreNo Runs on Life Insurance
No Runs on Life Insurance GOV – Congressman Ross, Holtz-Eakin GOV – Congressman Duffy, Daniel Schwarcz 2011 1116 – GOV (House) – Insurance Oversight and Legislative Proposals – pdf-131p (p15) – Mr. MONROE ( Compliance Officer, U.S. & Canada, for Marsh, Inc., on behalf of the Council of Insurance Agents & Brokers). I will keep…
Read More2020 – IAIS – Development of Liquidity Metrics – Phase I – Exposure Approach
2020 – IAIS – Development of Liquidity Metrics – Phase I – Exposure Approach 2020 1109 – IAIS – Development of Liquidity Metrics – Phase I – Exposure Approach – 45p 2020 / 2021 – IAIS – Resolutions to Public Consultation Comments on Development of Liquidity Metrics: Phase 1 – Exposure Approach, 9 November 2020…
Read MoreIndicators of Uninformed Consumers
Indicators of Uninformed Consumers Lawsuits Complaints to State / Company Media Reports Market Conduct Problems Government Reports / Hearings Consumer Testing / Focus Groups
Read MoreIndicators – Lawsuits
Indicators – Lawsuits The most obvious is if we fail policyholder expectations, we may have policyholder suits <lawsuits>. — Larry R. Robinson (Chairman of the ACLI Subcommittee on Cost Comparisons) 1988 – Actuarial Opinion on Non-Guaranteed Elements, Society of Actuaries – 12p
Read MoreIllustrations – Index
Illustrations – Index ABCDEFGHIJKLMNOPQRSTUVWXYZ# A ACLI – TRG – Technical Resource Goup, Industry – Illustrations – NAIC Back to top B Batch Illustrations – Walker v LSW Bonk – Illustrations Back to top C Costs and Illustrations – Walker v LSW Back to top D Deceptive Illustrations – Walker v LSW Dots – Illustrations Dots…
Read MoreUniversal Life – History
Universal Life – History Universal Life Insurance – Index “History of Traditional Universal Life” Background When universal life was first popularized about 20 years ago, there was considerable controversy with regard to nonforfeiture compliance. Was it term plus a side fund? Whole life with flexible premiums? Or something entirely different? 2001 – SOA – Universal…
Read MoreJury
Jury Finally, these standards are difficult for juries to follow. It is difficult for a jury to understand an instruction from a judge that tells them not to assume, just because the future turned out different from the way the actuary projected, that a discrepancy meant the actuary was wrong. Juries have a hard time…
Read MoreClass Action Settlements
Class Action Settlements Walker v Life Insurance Company of the Southwest Prudential Metlife As I said earlier, the cost to the company is different from the value or benefit given to the policyholder, in which case you’re putting values in a policy or selling a new policy. — Allan Horwich 1999 – SOA – The…
Read MoreContract Law
Contract Law (p392-393) – Senator Orrin Hatch (R-UT) – ….again I come back to my original statement. Why is State contract law an insufficient remedy? The answer to that, in my opinion, is it is a sufficient remedy. 1992 0428 and 0505 – GOV (Senate) – Insurance Guaranty Funds and the Involuntary Transfer of Insurance Policies,…
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