Insurable Interest Canadian Insurance Blog

State insurance regulators are taking another look at controversial indexed universal life illustrations — albeit with some trepidation. After all, it has only been a shade over three years since a National Association of Insurance Commissioners’ working group produced Actuarial Guideline 49, which was supposed to rein in illustrations. A new working group quietly began looking at IUL illustrations this winter. The group has a 2019 charge to “provide recommendations for modifications to AG 49 to the Life Actuarial (A) Task Force.” Fred Anderson, acting deputy commissioner of insurance for Minnesota, issued eight questions for the group to consider over many months of conference calls. “My high-level study has shown that IUL products are different now than they were in 2015,” Anderson said during a February call. “There’s additional probability for upside, but higher probability for downside.” Meanwhile, insurers continue to push the boundaries on IUL, analysts say, with new products illustrating higher and higher returns.“Indexed UL is an illustration war,” Bobby Samuelson, former senior vice president of product development for Brighthouse Financial, called it.In particular, new IUL products by Lincoln Financial and Pacific Life are illustrating high rates, he added. Samuelson does product reviews for subscribers and recently studied...

I scanned the roomful of strangers as my wife and I entered. Up front was the familiar face of my neighbor, George, looking down at his wife in the open casket. Immediately, attending the wake seemed like a mistake. We were only neighbors in a room of family members and friends who had known them longer than I had been alive. Should we sit? Should we go up front? What would we say? Shouldn’t we just leave? These are typical questions that come to mind at these moments, especially those involving someone you know, but not well. What is appropriate in those situations? Most of us do not know what to say or do at any spot on the spectrum spanning from loved one to acquaintance. “Sorry for you loss,” is what we say, even though it sounds lame. The phrase is as ineffectual as it feels, according to Amy Florian, who has made a career of understanding grief after experiencing it profoundly as a young adult. Her husband died in a car accident, leaving her a widow with a baby. She learned not only how to deal with that grief but she also went on to get a master’s...

Toronto start-up launches PolicyAdvisor.com, which aims to ‘take away the pain’ of searching for insurance

The platform, built in collaboration with a national insurance carrier, represents a Canadian first

The regulatory update opens the door for prescribers to use their medical judgment

Manulife Investments has announced management fee changes on three mutual funds.

The Toronto Integrated Market Enforcement Team of the RCMP announced today that it has charged a principal at a mutual fund dealer with fraud over $5,000.

Ninepoint Partners today announced that it has acquired the assets of LOGiQ Global Partners, a global institutional advisory business.

Early signs suggest the worst of the global economic slowdown might be behind us, says Scotiabank’s Global Outlook. However, the expansion is in a delicate situation.

I just ran across a couple of new perspectives on insurance websites. Both suggest brokers are leveraging technology to improve accuracy, decrease turn-around times, and continuously offer new products and services to engage customers. And they are doing it their way. Let’s start with AI in Insurance … Edmund Zagorin, a procurement expert, offers some… Read more » The post InsurTech: Morphing Well with Brokers appeared first on Insurance-Canada.ca.