Life Insurance and Annuities Committee

Life at the NAIC meeting: Reserves and more reserves

By Elizabeth D. Festa | March 29, 2013

Know your CDAs from your SPVs and definitely your PBR.

New York issues heavy-duty warning against PBR

By Elizabeth D. Festa | November 27, 2012

On the eve of the NAIC manual adoption, New York Department of Financial Services Superintendent Benjamin Lawsky launched a warning to his insurance commissioners about principles-based reserving.

Valuation Manual heads to NAIC meeting with fingers crossed

By Elizabeth D. Festa | November 26, 2012

Will New York be on board as the regulatory year comes to a close and legislative season readies to open?

Captive SPVs: Shadow industry or necessary tool for life insurers?

By Elizabeth D. Festa | November 21, 2012

Some state regulators are raising the specter of the “shadow banking system” in addressing the captives issue.

AG 38 Adopted: Check Your Life Reserves in the Rearview Mirror

By Elizabeth Festa | September 12, 2012

The joint committee led by Texas Insurance Commissioner Eleanor Kitzman has found success with a new approach to reserving for USLG and term life products with certain guarantees.

NAIC Reviews Hybrid Annuities To Ensure Meaningful Guaranteed Income Promises

By William H. Byrnes, Esq., Robert Bloink, Esq., LL.M. | March 16, 2012

Consumer protection regulations can provide your clients with confidence in the product.

Universal Life Insurance Premiums May Rise Under NAIC Approach

By William H. Byrnes, Esq., and Robert Bloink, Esq., LL.M. | March 14, 2012

Premium levels on certain universal life with secondary guarantee and term universal life products may be rising.

CDAs Are Hybrids of an Annuity, Financial Guarantee Product, says NAIC Subgroup

By Elizabeth Festa | February 9, 2012

They are neither fish nor fowl, according to the Contingent Deferred Annuity (A) Subgroup chair's remarks on a conference call with industry Thursday.

AG 38: S.C. Contends Proposed 'Framework' Doesn't Comply with SVL for In-Force Business

By Elizabeth Festa | February 6, 2012

Alaska also defends LATF statement to the NAIC Joint Working Group, in a defense of its reserving concerns for USLG and term UL products in the face of a compromise commissioner-led, industry-approved "framework" concept. Also, tensions between the role of the NAIC's life actuary group's voice and commissioner-level control of...

NAIC to Scrutinize Contingent Annuities

By Elizabeth Festa | November 6, 2011

The NAIC is forming a subgroup to tease out the issues of the burgeoning contingent annuity market, even as key player, MetLife, says it will not sell them, citing a number of concerns over the product, including reserving.