Archive for August 2023
Unflattering
Unflattering R. Dale Abshire monybush.com/ pwcsucks.com/
Read More2008 Financial Crisis – Monolines
2008 Financial Crisis – Monolines Spencer BACHUS (R-AL) – I believe to protect those that are relying on the bond insurers’ capitalization, I believe the superintendent of the New York Insurance Department could have raised the capital standards. Governor SPITZER. Sir, I think you misapprehend— Spencer BACHUS (R-AL) I believe there was inadequate capitalization 2008 0214…
Read MoreBartley Munson
Bartley Munson AAL – Aid Association for Lutherans SOA – Committee on Truth in Life Insurance of the Society of Actuaries – Bartley Munson, Chairman TILI – Truth In Life Insurance Bart Munson (William M. Mercer Inc.) noted that life insurance disclosure issues have been the subject of ongoing debate for years and that extensive work…
Read MorePPLI – Private Placement Life Insurance
PPLI – Private Placement Life Insurance 2022 0921 – Letter – GOV (Senate) – Ron Wyden (D-OR) Continues Investigation Into Private Placement Life Insurance Schemes – [link] 2022 0921 – Letter- GOV (Senate-Ron Wyden (D-OR) to Prudential Life – re Private Placement Life Insurance (PPLI) – 4p
Read MoreHal Phillips
Hal Phillips Hal Phillips, aka William H. Phillips, aka W. Harold Phillips senior life actuary with the California Department of Insurance One regulator [W. Harold Phillips (Hal), Senior Life Actuary – CA) summarized the problem in his department – Attachment Two-A: Misleading illustrations are structured as inducements to buy rather than helpful tools to understand the workings…
Read MoreDonna Megregian
Donna Megregian What is supportable is up to the illustration actuary and involves all aspects of the product, not just the crediting rate. — Donna Megregian 2015 – SOA – Actuarial Guideline 49 (aka Actuarial Guideline YY), Society of Actuaries – 3p
Read MoreProject – NAIC – Snippets – 2022
Project – NAIC – Snippets – 2022 2022 0407 – 2022-1, NAIC Proceedings – LIAC – Life Insurance (A) Committee 2. Adopted the Report of the Accelerated Underwriting (A) Working Group and the March 4 Draft Accelerated Underwriting in Life Insurance Educational Report Mr. Birnbaum said he participated, along with Brendan Bridgeland (Center for Insurance…
Read MoreProject – NAIC – Snippets – 2021
Project – NAIC – Snippets – 2021 2021 0811 – LIAC – NAIC – Summer National Meeting, Proceedings – 43p (p8) – 2021 0811 – LIIIWG Next Steps Summary Comment Chart 2021 1216 – LIAC – NAIC – Executive (EX) Committee and Plenary – Attachment Four – 4. The Life Insurance Online Guide (A) Working…
Read MoreLawsuits – Documents
Legal Cases – Documents 2019 – LC – Openiano v. Hartford Life and Annuity Insurance Company – 18-cv-0943 – D35 – Order Defendants’ Motion for Judgement on the Pleadings, District Court, Southern District of California – 11p
Read MoreCurrent Experience
Current Experience At one point in the dividend philosophy discussion, there was some consideration of how to enunciate a principle that would clearly state that new money presentations for illustrations based on elements that reflected a rate of inflation were acceptable, whereas other types of projections were not. This becomes very difficult because inflation can…
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