Project - 2008 Financial Crisis - State Regulation
- Guaranty Funds
- Shelby, Hunter, McRaith
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- (p16) - Willis B. Howard, Jr. (NOLHGA - National Organization of Life and Health Insurance Guaranty Associations):
- I'd like to respond briefly to my honorable friend, Commissioner Bartlett.
- Dwight, the guarantee association system works, and it works well.
- Dwight K. Bartlett III, Maryland Insurance Commissioner:
- Are you going to tell me, Bill, in all honesty that you really believe that the policyholders of Executive Life and Mutual Benefit Life have been well-served?
- For example, with Mutual Benefit, if you opted out of that rehabilitation plan you get, as I recall, 55 cents on the dollar of your account value.
- If you opt into the plan, you agreed to subject yourself to a moratorium period, which means you do not get full access to the cash values of your policy until the next century.
- Are you going to say that's meaningful coverage for those policyholders?
- ⇒ I think that's ridiculous.
1994 - SOA - Valuation Actuary - Symposium Proceedings - Session 1 - Introduction and Overview, Society of Actuaries - 110p
- (p16) - Willis B. Howard, Jr. (NOLHGA - National Organization of Life and Health Insurance Guaranty Associations):
- 2009 0402 - Letter - NCOIL to GOV (Senators Dodd, Frank, Shelby, Bachus) - 2p
- State insurance regulation was not a factor in the economic downturn and should not be swept into any proposed financial services overhaul.
- 2009 0901 - Letter - NCOIL,CSG, NCSL to GOV Dodd, Frank, Shelby, Bachus - 2p
- The Council of State Governments (CSG), National Conference of Insurance Legislators (NCOIL), and National Conference of State Legislatures (NCSL)—organizations of state officials devoted to sound insurance public policy—are writing to tell you why we believe that the protection of insurance consumers should continue to be based exclusively at the state level.