Regulatory
Insurance Regulation – Purpose
Insurance Regulation – Purpose Policyholder Protection Solvency of Companies PRELIMINARY COMMENT: The principal goal of insurance regulation has always been to prevent insurer insolvencies. It is pursued in various ways. 1969 0821- Wisconsin – 1969 Senate Bill 525 – Chapter 646 – Insurance Security Fund
Read MoreSafety and Soundness
Safety and Soundness Safety and Soundness v. Consumer Protection Twin Peaks (p3) – Barney Frank (D-MA) – I was told by one of the regulators, well, we can do regulation of consumer protections under our power to enforce safety and soundness on the banks, the argument being that a bank that does not treat consumers…
Read MoreCRVM – Commissioners Reserve Valuation Method
CRVM – Commissioners Reserve Valuation Method 1979 – SOA – Adjustable Life Expense Allowances Under The Commissioners Reserve Valuation Method, Society of Actuaries – 36p 1984-1, NAIC Proceedings, Reserves Examples 1994 – SOA – Valuation Actuary Symposium Proceedings – Sessions 8 – Life and Deferred Annuity Life and Deferred Annuity Liability Models, Society of Actuaries – 32p 1994…
Read MoreSupervised Insurance Organizations
Supervised Insurance Organizations federalregister.gov/documents/2022/10/04/2022-21414/framework-for-the-supervision-of-insurance-organizations federalreserve.gov/supervisionreg/srletters/SR2208.htm federalreserve.gov/apps/foia/ViewComments.aspx?doc_id=OP-1765&doc_ver=1
Read MoreDeceptive Trade Practices
Deceptive Trade Practices Deceptive DTPA – Deceptive Trade Practices Act Crown v Casteel 2000 – LR – Deceptive Trade Practices – Consumer Protection Act, by A. Michael Ferrill and Leslie Sara Hyman – 35p In Metropolitan Life Insurance Co. v. Haney,8 a life insurance agent brought DTPA claims against MetLife complaining of inaccurate policy illustrations generated…
Read MoreSmoothness
Smoothness (p1063) – 14. Disclosure and Sales Illustration Practice The actuarial task force has become aware of two professional actuarial groups which are now studying sales illustrations for life insurance contracts. Presentations on behalf of both these groups were made at the December 1991 actuarial task force meeting. Judy Faucett commented on the work of the…
Read MoreUnsuitable
Unsuitable 1979 – LR – Remedies for the Buyer or Beneficiary of an Unstable Life Insurance Plan, by Wilbur C. Leatherberry, 32 Rutgers L. Rev. 431 – 53p
Read MorePrudential Regulation
Prudential Regulation 2014 08 – SOA – Downside of Prudential Regulation: Lower Liquidity, By Ira Jersey, Risk Management, Society of Actuaries – 4p
Read MoreDynamic Solvency Testing – DST
Dynamic Solvency Testing – DST Dynamic Financial Condition Analysis Handbook – SOA – Society of Actuaries 1993 – SOA – The Potential Role of Dynamic Solvency Testing in Preventing Insolvencies of Insurance Companies: A Historical Perspective, by Robert S. Fillingham, Society of Actuaries – 30p
Read MoreDynamic Financial Condition Analysis Handbook – SOA – Society of Actuaries
Dynamic Financial Condition Analysis Handbook – SOA Let’s begin with a very brief history. The AAA and the SOA were responding to a NAIC concern about company solvency. — James F. Reiskytl 1996 – SOA – Dynamic Financial Condition Analysis Handbook Task Force, Society of Actuaries – 21p 1993 – SOA – The Potential Role of…
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