Tag Archives: Life Insurance

Indiana Adopts Guidance On PBR Implementation

In early 2013, Indiana became one of the first states in the country to pass legislation (HEA 1321) enacting the principled-based reserving method for calculating life insurance policy reserves (i.e., the Standard Valuation Manual).  However, before the law could become … Continue reading

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IDOI Issues Bulletin on Mandatory ILHIGA Disclaimer

On October 7th, 2013, the Indiana Department of Insurance released Bulletin 200 (Indiana Life and Health Guaranty Association Disclaimer), which requires ILHIGA member insurers to include the “Summary Document” (attached to the Bulletin) with every policy or contract to a … Continue reading

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SCOTUS Issues Rare Life Insurance Opinion

This week, the United States Supreme Court decided Hillman v. Maretta, which concerned an area the nation’s highest court rarely addresses: life insurance. I don’t want to mislead you; the case is just a plain-old Supremacy Clause case that just … Continue reading

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Seventh Circuit Permits Payment of Life Insurance Benefits Through Retained Asset Accounts

Earlier this month, in Phillips v. Prudential Insurance Co. of America, the Seventh Circuit affirmed dismissal of a putative class action challenging a life insurer’s use of “retained asset accounts” for payment of policy benefits. The plaintiff alleged that Prudential … Continue reading

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Jones Presents at ACI’s Litigating Life Insurance and Annuity Claims Forum

On Monday, July 30, 2012, Brian Jones, of Bose McKinney & Evans LLP’s Insurance and Litigation Groups, discussed current issues and strategies in variable annuity litigation at the American Conference Institute’s Litigating Life Insurance and Annuity Claims forum in New … Continue reading

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NCOIL Issues Model Act for Unclaimed Life Insurance Benefits

In response to numerous state investigations this year, the National Conference of Insurance Legislators has approved the Model Unclaimed Life Insurance Benefits Act.  Click here for the NCOIL’s press release. In a nutshell, the Act would require life insurers to … Continue reading

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Indiana’s Reduced Collateral Requirements for Reinsurers

Borrowing from Chevy Chase, Indiana is still one of a handful of states–8 actually–that have enacted reduced collateral requirements for reinsurers.  This happened back in April 2011 and affects life and property and casualty lines.  In a nutshell, for reinsurers … Continue reading

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