Table of Contents

July 2009 (20 pages; $25)

• A Host of Allegations about the Activities of a Funeral Trust Fund in Illinois
• Executives' Compensation in 2008
• Appendix A: Compensation Data for 2008 from the SEC
• Appendix B: Compensation Data for 2008 from Nebraska
• Appendix C: Compensation Data for 2008 from New York
• Appendix D: Compensation Data for 2007 from New York

June 2009 (8 pages; $10)

• Tardy Disclosure of an Important Element in the Approval of Conseco's Separation from a Troubled Long-Term Care Subsidiary
• Money Laundering through Annuities
• The Minnesota Department's Attack on Spinlife
• Phoenix Life, Steven Lockwood, and Several Lawsuits Relating to Spinlife

May 2009 (8 pages; $10)

• The Flurry of Capital Infusions into Insurance Companies through Statutory Accounting Changes Approved by Individual Regulators
• Observations on Financial Ratings of Insurance Companies and the Recent Downgrades (this article contains a partial ratings update to the September 2008 special ratings issue)

April 2009 (8 pages; $10)

• James A. Ballew
• The NAIC's Rejection of the Life Insurance Industry's Request for Capital Relief and the Aftermath of the Rejection
• The Prison Sentences Imposed on Former Executives of AIG and GenRe
• A Lawsuit by American General Seeking Nullification of a Spinlife Policy
• More on Great American's Effort to Invoke Its Excess Liability Policy's Pollution Exclusion After a Fire
• Mailing Lists Used in the Madoff Bankruptcy Court Proceeding Become Public

March 2009 (8 pages; $10)

• Two Recent Court Decisions Critical of Unum's Disability Insurance Claims Practices
• Another Conseco Assault on Policyholders
• A Surprising Lawsuit Filed by Great American
• More on Life Partners and the Colorado Securities Commissioner
• A Reminder about Electronic Enrollment

February 2009 (8 pages; $10)

• Capital Infusions into Life Insurance Companies by Weakening Statutory Accounting Rules
• The Importance of Comprehensive, Universal Health Insurance (by Alan Press)
• An Investigation of Long-Term Care Insurance by the Texas Attorney General
• From the Mailbag
• A Defeat for Life Partners in a Dispute with the Colorado Securities Commissioner

January 2009 (8 pages; $10)

• Playing the Blame Game
• The Restructured AIG Nationalization Plan
• More on Conseco's Separation from a Troubled Long-Term Care Insurance Subsidiary
• The Business Model of the Bond Insurers

December 2008 (8 pages; $10)

• Daniel J. McCarthy
• The Nationalization of AIG
• More on Actuarial Disciplinary Procedures
• The Failure of the Automobile Insurance System (by Carl E. Nash)

November 2008 (8 pages; $10)

• Conseco's Separation from a Financially Troubled Long-Term Care Insurance Subsidiary
• An Important Court Decision about the Income Taxation of Demutualization Distributions
• Variable Universal Life--Buyer Beware! (by Scott J. Witt)
• From the Mailbag

October 2008 (8 pages; $10)

• The Decimation of New York State's Century-Old Compensation Disclosure Law
• The Need for More Transparency in the Actuarial Profession's Disciplinary Procedures
• Recent Developments at Life Partners
• Trans World, Military Sales, and the Georgia Insurance Commissioner

September 2008 (32 pages; $25)

• Financial Strength of Insurance Companies
• Suggested Life-Health Companies
• Ratings of Life-Health Companies
• Ratings of Property-Liability Companies
• Watch List of Life-Health Companies
• Descriptions of Rating Categories
• Distributions of Life-Health Ratings

August 2008 (16 pages; $20)

• The Unconventional NAIC Settlement with Conseco on Long-Term Care Insurance
• Insurance Companies' Risk-Based Capital Ratios
• Insurance Companies' Usage of Surplus Notes
• From the Mailbag
• Life Insurance Company Statements on Spinlife
• Appendix A:  Risk-Based Capital Data
• Appendix B:  Surplus Note Data

July 2008 (16 pages; $20)

• Shortcomings of Private Insurance in Financing Long-Term Care
• Executives' Compensation in 2007
• Appendix A:  Cross-References for Executive Compensation Data
• Appendix B:  Compensation Data for 2007 from the SEC
• Appendix C:  Compensation Data for 2007 from Nebraska
• Appendix D:  Compensation Data for 2007 from New York

June 2008 (16 pages; $20)

• Julia M. Carson
• More on the Tragedy of the Uninsured in America (by Alan Press)
• The Use of Spinlife to Facilitate Replacement
• "Free Insurance"--What I Tell My Friends (by Stephan R. Leimberg)
• From the Mailbag

May 2008 (8 pages; $10)

• The Minnesota Attorney General, American Equity, Aviva, and the Selling of Unsuitable Annuities to Seniors
• The California Commissioner, Allianz, and the Selling of Unsuitable Annuities to Seniors
• The Minnesota Commissioner, American Investors Life, AmerUs Life, and the Selling of Unsuitable Annuities to Seniors
• MBIA's $1 Billion Offering of Surplus Notes
• Correspondence about Our February 2008 Issue

April 2008 (8 pages; $10)

• Jonathan Blattmachr and the Use of Life Insurance in Aggressive Efforts to Avoid Taxation
• From the Mailbag
• Recent Developments Involving Life Partners
• Taxation of Life Insurance Premiums in Alaska and South Dakota

March 2008 (8 pages; $10)

• The Scandalous Failure of the Health Insurance Industry to Assist in Solving the Tragedy of the Uninsured in America (by Alan Press)
• From the Mailbag
• Nationwide's Confidential Method of Determining Dividends on Life Insurance Policies

February 2008 (8 pages; $10)

• Lincoln National’s Lawsuit Seeking Rescission of $30 Million of Spinlife, and Other Developments Relating to Spinlife

January 2008 (8 pages; $10)

• Obscene Commissions for Intermediaries in the Secondary Market for Life Insurance Policies
• Larry King's Lawsuit against an Insurance Agent Relating to a Pair of 2004 Transactions in the Secondary Market
• The National Underwriter Magazine and the Secondary Market for Life Insurance Policies
• Another Proposed Alternative to the Secondary Market for Life Insurance Policies
• Warren Buffett's Losing Bet against the Boston Red Sox

December 2007 (8 pages; $10)

• The Minnesota/Allianz Settlement about Sales of Unsuitable Deferred Annuities to Seniors
• The New York Insurance Department’s Procedure in the Promulgation of Regulations
• Recent Developments in New York and Florida Relating to Coventry and the Secondary Market for Life Insurance Policies
• Commission Differentials in Deferred Annuities (by Vincent P. Gallagher)
• From the Mailbag

November 2007 (8 pages; $10)

• A Critical Report by Three Securities Regulatory Organizations about "Free Lunch" Seminars that Target Seniors
• Observations on Reports Filed in Texas by Coventry First and Life Partners
• New York Life's "Access Plus" Program
• Corrections in Our Executive Compensation Tabulations for 2006

October 2007 (8 pages; $10)

• The New York Insurance Department Changes Its Position on Compensation Disclosure
• A Novel about Viatical Transactions
• The Mounting Legal Problems at Life Partners
• Appendix:  Letter to LICONY from the New York Insurance Department

September 2007 (32 pages; $25)

• Financial Strength of Insurance Companies
• Suggested Life-Health Companies
• Ratings of Life-Health Companies
• Ratings of Property-Liability Companies
• Watch List of Life-Health Companies
• Descriptions of Rating Categories
• Distributions of Life-Health Ratings

August 2007 (16 pages; $20)

• The Expanding Crackdown on Deception in the Sale of Unsuitable Annuities to Seniors
• Insurance Companies' Risk-Based Capital Ratios
• Insurance Companies' Usage of Surplus Notes
• A Major Development in New York Relating to Disclosure of Executive Compensation
• Appendix A:  Risk-Based Capital Data
• Appendix B:  Surplus Note Data

July 2007 (16 pages; $20)

• A Landmark Decision about the Secondary Market for Life Insurance Policies
• Executives' Compensation in 2006
• Appendix A:  Cross-References for Executive Compensation Data
• Appendix B:  Compensation Data for 2006 from the SEC
• Appendix C:  Compensation Data for 2006 from Nebraska
• Appendix D:  Compensation Data for 2006 from New York

June 2007 (16 pages; $20)

• The Proposed Class Action Settlement of Conseco's Assault on Universal Life Policyholders
• Metropolitan Life's Flawed Attempt to Take Over TIAA's Obligations Relating to Long-Term Care Insurance Policies

May 2007 (12 pages; $10)

• Fake Reinsurance Obtained by MBIA
• Fake Insurance Promoted by AIG
• Enron-Style Entities Promoted by AIG
• Fake Reinsurance Obtained by RenRe
• Unacceptable Surplus Promoted by Citibank

March/April 2007 (20 pages; $25)

• Mark S. Dorfman and Christopher E. DiPasquale
• A Summary of Eliot Spitzer's Insurance Investigation
• Three State Attorneys General Enforce Agreements with Insurers to Stop Paying Contingent Compensation
• The DiPasquale Disability Case
• The Surplus Note Catastrophe at Atlantic Mutual
• The New York Times Features Spinlife and the Secondary Market for Life Insurance Policies
• More on Life Insurance Policy Buyout Programs
• The Minnesota Complaint against Allianz Life for Selling Unsuitable Deferred Annuities to Seniors
• An Added Dimension of the National Stock Options Scandal
• A Setback for Massachusetts Mutual in Its Bitter Dispute with Robert O'Connell
• A Book about "Hank" Greenberg and AIG
• From the Mailbag

January/February 2007 (32 pages; $25)

• A Blistering Report about the Stock Options Scandal at UnitedHealth
• The Stock Options Scandal at HCC
• Spitzer, Coventry, and the Secondary Market for Life Insurance Policies
• A Surprising Arbitration Award in the Dispute between Robert O'Connell and Massachusetts Mutual
• New York/California Settlements with UnumProvident Relating to Undisclosed Compensation Paid to Brokers
• New Hampshire, New York, and NASD Settlements with ING
• Appendix A:  Excerpts from Arbitration Award in the Dispute between Robert O'Connell and Massachusetts Mutual
• Appendix B:  Excerpts from Court Filing by Massachusetts Mutual Relating to the Arbitration Award to Robert O'Connell
• Appendix C:  Excerpts from Spitzer Settlement with UnumProvident
• Appendix D:  Excerpt from Spitzer/ING Assurance of Discontinuance

November/December 2006 (24 pages; $20)

• James C. Hickman
• Amended Criminal Charges over an AIG/Gen Re Transaction and Amended Civil Charges against Greenberg/Smith
• DOJ, SEC, and State Insurance Regulatory Actions against Abusive Practices Directed at Military Personnel
• The NAIC Campaign to Create a Monopoly in the Distribution of Insurance Company Financial Statements
• Oregon's 1996 Repeal of the Gag Rule on Risk-Based Capital Data
• Comdex and the Use of Numbers To Summarize the Ratings of Insurance Companies
• Appendix A:  Text of Spitzer/Mills Amended Complaint against Greenberg/Smith
• Appendix B:  Excerpts from Government Complaints against American-Amicable

October 2006 (8 pages; $5)

• An Update on Northwestern Mutual's Lawsuit against PPSI/Stinnett
• Disclosure of Executive Compensation Moves Front and Center--Except among State Insurance Regulators
• A Report on Freedom of Information Acts

September 2006 (32 pages; $25)

• Financial Strength of Insurance Companies
• Suggested Life-Health Companies
• Ratings of Life-Health Companies
• Ratings of Property-Liability Companies
• Watch List of Life-Health Companies
• Descriptions of Rating Categories
• Distributions of Life-Health Ratings

August 2006 (16 pages; $10)

• Life Insurance Companies Should Take Over the Secondary Market for Their Policies
• UnitedHealth Group and the Scandal Surrounding Stock Options
• Insurance Companies' Risk-Based Capital Ratios
• Insurance Companies' Usage of Surplus Notes
• Appendix A:  Risk-Based Capital Data
• Appendix B:  Surplus Note Data

July 2006 (24 pages; $20)

• Hartford's Settlement of the New York and Connecticut Complaints about Secret Commissions on Terminal and Maturity Funding Annuities
• The Ill-Advised ACLI Proposal for an Excise Tax on Speculator-Initiated Life Insurance Transactions
• From the Mailbag
• Executives' Compensation in 2005
• Appendix A:  Excerpts from Spitzer Complaint against Hartford
• Appendix B:  Cross-references for Executive Compensation Data
• Appendix C:  Compensation Data for 2005 from the SEC
• Appendix D:  Compensation Data for 2005 from Nebraska
• Appendix E:  Compensation Data for 2005 from New York

June 2006 (12 pages; $10)

• The Growing Speculation in Human Lives through the Secondary Market for Life Insurance Policies
• A Letter from a UnumProvident Claimant
• Appendix A:  Karl J. Ohrman's Letter to a Charitable Organization
• Appendix B:  New York Insurance Department's Opinion on Certain Speculator-Initiated Life Insurance Transactions

May 2006 (12 pages; $10)

• Criminal and Civil Charges against Individuals Associated with a Discredited AIG/Gen Re Transaction, and Related Developments
• Undervaluation of Life Insurance Protection and a Resulting Improper Reduction in the Tax Revenue of the United States Government
• My Letter to the IRS about the Taxation of Waiver-of-Premium Disability Benefits
• Our Detailed 2004-2005 Index
• Appendix A:  Telephone Conversations Quoted in the SEC Complaint
• Appendix B:  SEC Press Release Announcing the Settlement with AIG
• Appendix C:  DOJ Press Release Announcing the Settlement with AIG

April 2006 (8 pages; $5)

• The Background, Nature, and Causes of the Financial Crisis at The American College

February/March 2006 (20 pages; $20)

• Aftermath of the California/UnumProvident Settlement Relating to Disability Income Insurance Claims Practices
• The Disability Insurance Industry's Attack on California's Consumer Protection Initiative (by Mark D. DeBofsky)
• Spitzer, Greenberg, and The Starr Foundation
• More on the Federal Income Taxation of Waiver-of-Premium Disability Benefits
• An Update to Our September 2005 Special Ratings Issue
• From the Mailbag
• Hurricane Katrina and the National Geographic
• Appendix A:  Attorney General Eliot Spitzer's Letter to The Starr Foundation and Related Documents
• Appendix B:  Recent Rating Actions Affecting Insurance Companies

January 2006 (12 pages; $10)

• The California Insurance Department's Settlement with UnumProvident Relating to Disability Insurance Claims Practices
• An Angry Book about UnumProvident's Disability Insurance Claims Practices
• Appendix A:  Allegations in the California Insurance Department's Accusation Concerning UnumProvident's Disability Insurance Claims Practices
• Appendix B:  Excerpts from the Federal Court Decision in the Hangarter Case

December 2005 (12 pages; $10)

• Prudential, the Internal Revenue Service, and the Taxation of Waiver-of-Premium Disability Benefits
• A Disapproved Reorganization Plan Involving Security Mutual Life of New York and Ohio National Life
• Developments Relating to TIAA's Transfer of Its Long-Term Care Insurance Business to Metropolitan Life

November 2005 (8 pages; $5)

• Harry K. Privette
• Hurricane Katrina and the Gulf Coast
• The Greenberg Attorneys' Memorandum about AIG's Restatements
• Indictments of Former Marsh Executives
• Appendix:  Preface and Overview in the Greenberg Attorneys' Memorandum

October 2005 (16 pages; $10)

• The Disciplinary Body of the U. S. Actuarial Profession Says Joseph Petrelli of Demotech Does Not Have a Conflict of Interest
• Surplus Note Usage by Insurance Companies
• Risk-Based Capital Ratios
• Appendix A: Data on Surplus Notes
• Appendix B:  Data on Risk-Based Capital

September 2005 (32 pages; $20)

• Financial Strength of Insurance Companies
• Ratings List of Insurance Companies
• Suggested Insurance Companies for Conservative Consumers
• Watch List of Insurance Companies
• Rating Firms' Descriptions of Their Rating Categories
• Distributions of the Ratings of Insurance Companies

August 2005 (28 pages; $20)

• The Spitzer/Mills Complaint Against AIG, Greenberg, and Smith
• Willis Incorrectly Portrays Its Agreement with Spitzer and Mills
• The Term-Only License Proposal and the Citigroup/Primerica Culture (by Joseph M. Belth and Alan Press)
• Slavery and Insurance
• A Horrific Event Involving Slaves and Insurance (by Adam Hochschild)
• Appendix A:  Text of Spitzer/Mills Complaint against AIG, Greenberg, and Smith
• Appendix B:  Excerpt from Spitzer/Mills Settlement with Willis

July 2005 (20 pages; $20)

• TIAA-CREF's Governance Crisis Caused by the Mishandling of an Auditor Independence Violation
• Executives' Compensation in 2004
• The Governance Crisis at Massachusetts Mutual
• Appendix A:  Compensation Data for 2004 from Proxies
• Appendix B:  Compensation Data for 2004 from Nebraska
• Appendix C:  Compensation Data for 2004 from New York

May/June 2005 (28 pages; $20)

• Charles P. Hall, Jr. and Kenneth Black, Jr.
• Northwestern Mutual Fights Back against PPSI/Stinnett
• The Settlement of the Spitzer Complaint against Marsh
• The Unpublicized Spitzer Complaint against Aon
• The A. L. Williams/Primerica Aspect of the Transaction between MetLife and Citigroup
• Wet on Met? (by Alan Press)
• From the Mailbag
• A Conflict of Interest for Actuaries Involved in Both Life Settlements and Universal Life with No-Lapse Guarantees
• A Conflict of Interest for Joseph Petrelli of Demotech
• Appendix A:  Excerpts from Northwestern Mutual's Complaint against PPSI/Stinnett
• Appendix B:  Text of the Spitzer/Marsh Agreement
• Appendix C:  Memorandum about the Internal Investigation at Marsh

April 2005 (8 pages; $5)

• The Georgia Examination Report on UnumProvident's Disability Insurance Claims Practices
• Appendix:  Excerpts from the Georgia Examination Report

February/March 2005 (24 pages; $20)

• John Douglas Long
• The Multistate Settlements Relating to UnumProvident's Disability Insurance Claims Practices
• Northwestern Mutual and the NASD
• An Anonymous Comment about Executive Compensation at Massachusetts Mutual
• Why We Omitted the Weiss Ratings from Our September 2004 Special Ratings Issue
• Response to Comments about the Omission of the Weiss Ratings from Our September 2004 Special Ratings Issue
• An Update to Our September 2004 Special Ratings Issue
• Appendix A:  Statement of Joseph M. Belth about the Multistate Settlements with UnumProvident
• Appendix B:  Letter from Friedman, Rubin & White about the Multistate Settlements with UnumProvident
• Appendix C:  Letter from Bonny G. Rafel about the Multistate Settlements with UnumProvident
• Appendix D:  Excerpt from the NASD Settlement with Northwestern
• Appendix E:  Recent Rating Actions Affecting Insurance Companies

January 2005 (24 pages; $20)

• Eliot Spitzer and the Insurance Industry
• Conflicts of Interest Relating to Compensation in the Distribution Component of the Insurance Industry
• Appendix: Text of Spitzer Complaint against Marsh

December 2004 (4 pages; $5)

• An Investigation of the Secret Dividend Expense Charges in Five Life Insurance Policies

November 2004 (16 pages; $10)

• The Growing Availability of Easy-To-Use Calculators for Annual Percentage Rates Associated with Fractional Premiums
• Executives' Compensation--A Correction
• From the Mailbag
• Risk-Based Capital Ratios
• Surplus Note Usage by Insurance Companies
• Appendix A:  Data on Risk-Based Capital
• Appendix B:  Data on Surplus Notes

October 2004 (4 pages; $5)

• The Magnitude of the Underpricing in Universal Life Policies with No-Lapse Guarantees
• Rating Firms Sound the Alarm

September 2004 (32 pages; $20)

• Financial Strength of Insurance Companies
• Ratings List of Insurance Companies
• Suggested Insurance Companies for Conservative Consumers
• Watch List of Insurance Companies
• Rating Firms' Descriptions of Their Rating Categories
• Distributions of the Ratings of Insurance Companies

July/August 2004 (20 pages; $20)

• E. J. Moorhead
• Flawed Life Insurance Programs Promoted to Charities
• An Incident Involving Conseco Life's Appointed Actuary
• Personal Reflections about Jack Moorhead
• Executives' Compensation in 2003
• A Request for Readers' Comments
• An Inquiry to the Insurance Commissioner of the District of Columbia about Fractional Premium Charges
• Our Detailed 2002-2003 Index
• Appendix A:  Compensation Data for 2003 from Proxies
• Appendix B:  Compensation Data for 2003 from Nebraska
• Appendix C:  Compensation Data for 2003 from New York

May/June 2004 (16 pages; $20)

• Life Insurance:  An Industry Built on Secrecy
• Conseco Further Expands Its Assault on Policyholders
• The Utah Insurance Commissioner Blocks Disclosure of Fractional Premium Charges as Annual Percentage Rates
• Correspondence with an Attorney about Disclosure of Fractional Premium Charges as Annual Percentage Rates
• From the Mailbag

March/April 2004 (24 pages; $20)

• Secondary Guarantees, Marketers, Actuaries, Regulators, and a Potential Financial Disaster for the Life Insurance Business
• Lesson:  Nonforfeiture Benefits
• Lesson:  The Tontine Concept
• Lesson:  Term to 100 in Canada
• Conseco Adds to the Confusion Surrounding RBC Ratios
• Conseco's Combined RBC Ratios
• My Questions and Conseco's Answers
• TIAA's Surprising Exit from the Long-Term Care Insurance Business
• Statement of Joseph M. Belth on TIAA Transfer to MetLife
• From the Mailbag

January/February 2004 (20 pages; $20)

• Spencer L. Kimball
• Conseco Expands Its Assault on Policyholders
• An Update to Our September 2003 Special Ratings Issue
• From the Mailbag
• A Letter from National Life of Vermont
• Conseco Exaggerates Its RBC Ratios
• Anti-Consumer Regulation from the Illinois Insurance Department
• Appendix A:  Southwestern Life Letter to Policyholder (May 1989)
• Appendix B:  Philadelphia Life Memorandum about the R-factor (1995 or earlier)
• Appendix C:  Massachusetts General Letter to "Policyholder or Agent" (1995 or earlier)
• Appendix D:  Recent Rating Actions Affecting Life-Health Insurance Companies

December 2003 (16 pages; $10)

• Conseco's Assault on Universal Life Policyholders
• Conseco's Outrageous Surrender Form
• My Questions and Conseco's Answers
• Appendix:  Texas Insurance Commissioner's Protective Order Relating to Conseco Life Insurance Company of Texas

November 2003 (16 pages; $10)

• The Surplus Note Catastrophe at Lumbermens Mutual
• What Is a Surplus Note?
• Do Insurance Regulators Have Statutory Authority To Approve Issuance of Surplus Notes?
• More on Executives' Compensation in 2002
• Surplus Note Usage by Insurers
• Risk-Based Capital Ratios
• Comments from the State of Washington
• Appendix A:  Data on Surplus Notes
• Appendix B:  Data on Risk-Based Capital

October 2003 (8 pages; $5)

• The NAIC Terminates Free Public Access to the Annual Statements of Insurance Companies
• Executive Compensation Data in the Annual Statements of Insurance Companies
• Is the NAIC Private or Governmental?

September 2003 (32 pages; $20)

• The Financial Strength of Life-Health Insurance Companies
• Ratings List
• Watch List
• Appendix A:  Descriptions of Rating Categories
• Appendix B:  Distributions of Ratings

August 2003 (16 pages; $20)

• Executives' Compensation in 2002
• Unexplained Substantial Differences in the Reported Compensation of John Hancock Executives
• The Lawsuit against John Hancock's Officers and Directors
• Executive Compensation and Financial Services Integration
• Appendix A:  Compensation Data for 2002 from Proxies
• Appendix B:  Compensation Data for 2002 from Nebraska
• Appendix C:  Compensation Data for 2002 from New York

July 2003 (8 pages; $5)

• John Hancock/UnumProvident Agreements Reveal an Important Dimension of Transfers for Claims Administration
• A Recommendation from LeBoeuf to Provident Life and Accident Raises Accounting and Other Questions
• Incorrect Statements from the ACLI about the Fractional Premiums Lawsuits in New Mexico
• Lincoln National Life's Extraordinary Quarterly Premiums

June 2003 (8 pages; $5)

• UnumProvident Corporation and the Georgia Commissioner
• Income Taxation of Distributions to Policyholders in Demutualizations
• UnumProvident Corporation and the Fortune Lists of "Most Admired" Companies

April/May 2003 (24 pages; $20)

• The LeBoeuf Report in Connection with the Reengineering Project at Provident Life and Accident
• Transferring Claims Administration for Disability Insurance Policies
• Other Agreements for Transferring Disability Insurance Claims Administration
• Some Insurance Claims History
• Some Insurance Claims Philosophies
• An Actuary's Comments on UnumProvident
• From the Mailbag
• A Book about Insurance Investigations
• Appendix A:  The Recommendations in the LeBoeuf Report
• Appendix B:  Services Agreement for Disability Income Claims Management between Berkshire Life Insurance Company and Security Mutual Life Insurance Company of New York
• Appendix C:  Some Cases Described in a Committee Report in 1911
• Appendix D:  Excerpts from a New Hampshire Court Decision in 1873

March 2003 (8 pages; $5)

• The Results of the Federal Investigation into Academy Life's Sales Practices at Military Installations
• More about Minimum Monthly Payments on Credit Card Accounts
• More on the Vendetta against Northwestern Mutual
• Olympus Reinsurance and the A.M. Best Company
• Our Annual Percentage Rate Calculator
• Northwestern Mutual, New York Life, and the "LEAP" System

February 2003 (12 pages; $10)

• The National Media Spotlight Focuses Attention on UnumProvident's Disability Insurance Claims Practices
• Using ERISA against Those It Was Designed to Protect (by Mark D. DeBofsky)
• Appendix A: Excerpts from the Federal Court Decision in the Hangarter Case
• Appendix B: Excerpts from the Federal Court Decision in the Watson Case

January 2003 (8 pages; $5)

• Massachusetts Mutual's Free Life Insurance Program
• From the Mailbag
• IMSA Sidesteps a Question about the "LEAP" System
• Minimum Monthly Payments on Credit Card Accounts
• Significant Recent Rating Actions Affecting Life-Health Insurance Companies

December 2002 (8 pages; $5)

• The Vendetta against Northwestern Mutual
• An Introduction to Dr. Long's Article
• Insurance Credit Scoring: Yes or No? (by John D. Long)
• Insurance and Discrimination
• An Unsuccessful Survey about Expensing Stock Options

November 2002 (8 pages; $5)

• The Departure of a Dedicated Agent
• Why I Left the Life Insurance Business (by a Veteran Agent)
• Further Secrecy in the Confidential Allocation Formula at Provident Mutual
• From the Mailbag
• Belated 2001 Compensation Data from the New York Insurance Department
• Further Developments at Conseco

October 2002 (12 pages; $10)

• Recent Developments Relating to the "LEAP" System
• The Nonpayment of Insurance Claims
• From the Mailbag
• The Loss of the Certainty Effect (by Richard E. Stewart and Barbara D. Stewart)
• Moody's Report on Life Insurers' Bond Exposure to Troubled Corporations
• Belated 2000 Compensation Data from the New York Insurance Department
• An Update on the Conseco Companies' Ratings

September 2002 (36 pages; $20)

• The Financial Strength of Life-Health Insurance Companies
• Ratings List
• Watch List
• Appendix A: Descriptions of Rating Categories
• Appendix B: Distributions of Ratings

August 2002 (16 pages; $10)

• A Big Payday for Six Departing Executives of Provident Mutual
• Recent Letters from "LEAP" and Guardian Life
• Risk-Based Capital Data for 2001
• Surplus Note Usage by Insurers

July 2002 (16 pages; $10)

• The "LEAP" Responses to Our Special Issue
• From the Mailbag
• Executives' Compensation in 2001

June 2002 (8 pages; $5)

• The "LEAP" Provision in the 1997 Settlement of the Sales Practices Lawsuit against John Hancock
• On the Independence of IMSA's Independent Assessors
• Belated Compensation Data from the New York Insurance Department
• Settlement of State Allegations Relating to Bankers Insurance Company's Investigation of a Florida Insurance Department Employee
• Appendix: 1999 Compensation Data from the New York Insurance Department

May 2002 (12 pages; $10)

• The Rewriting of History by Opponents of Disclosure of Fractional Premium Charges as Annual Percentage Rates
• Fractional Premium Charges and the Wilcox Lobbying Campaign
• The Second Settlement in the Massachusetts Mutual Fractional Premiums Case
• Appendix A: Results of December 10, 2001 Survey of 55 Insurance Commissioners
• Appendix B: Excerpts from Notes and Desposition Testimony of Robert E. Wilcox
• Appendix C: Letter from David Hippen of Florida and My Reply

April 2002 (12 pages; $10)

• "LEAP" and the Diversion of Funds into Cash-Value Life Insurance
• The A. L. Williams Parallel
• The Struggle for Access to "LEAP" Material
• Rates of Return in the "LEAP" System
• Who Is Robert Castiglione?
• "LEAP" and Dr. Huebner's Economics Book
• "LEAP" and Guardian Life
• Our Detailed 2000-2001 Index

March 2002 (12 pages; $10)

• Legal Setbacks for Tax-Motivated COLI Plans
• A Federal Government Reinsurance Facility for Catastrophes
• Providing Catastrophe Insurance Coverage Following the Terrorist Events of September 11 (by Dan R. Anderson)

February 2002 (8 pages; $5)

• The Shrinking Secondary Market for Life Insurance Policies
• The Yearly Price of Protection--Another Important Nondisclosure in Life Insurance
• The Case Against Secret Dividend Formulas

January 2002 (12 pages; $10)

• Revisiting Credit Insurance
• An Update to Our September 2001 Special Ratings Issue
• Confronting the Terrorism Exposure
• Appendix: Recent Rating Actions Affecting Life-Health Insurance Companies

December 2001 (12 pages; $10)

• Insurance Commissioners and the ACLI Oppose Disclosure of Fractional Premium Charges as Annual Percentage Rates
• More on the "LEAP" System
• What Provident Mutual Will Not Allow Its Policyholders To See Until Later

November 2001 (8 pages; $5)

• Requirements for the Proper Functioning of Private Insurance
• Income Taxation of the Inside Interest--An Important Nondisclosure in Life Insurance
• Northwestern Mutual Tells Its Representatives How To Express Fractional Premium Charges as Annual Percentage Rates
• More on Risk-Based Capital Data for 2000
• The Impact of Recent Events on Ratings
• A Court Orders the New York Insurance Department To Honor Our Request for Executive Compensation Data

October 2001 (12 pages; $10)

• A Legal Immunity Zone for the Marketers of Variable Insurance Products
• Jason Adkins, David Schiff, Allied Mutual, and an Important Iowa Supreme Court Decision
• More on Executives' Compensation in 2000
• More on the Tactics Used by a Critic of Northwestern Mutual
• From the Mailbag
• Appendix A: The Lander Case from the Plaintiff's Point of View (by Ronald A. Uitz)
• Appendix B: The Lander Case from the Defendants' Point of View (by Barry A. Chasnoff, Daniel McNeel Lane, Jr., and David R. Nelson)
• Appendix C: The Allegations in the Lander Case (by Michael C. Spencer)

September 2001 (36 pages; $20)

• The Financial Strength of Life-Health Insurance Companies
• Ratings List of Life-Health Insurance Companies
• Watch List of Life-Health Insurance Companies
• Appendix A: Rating Firms' Descriptions of Their Rating Categories
• Appendix B: Distributions of the Ratings of Life-Health Insurance Companies

August 2001 (16 pages; $10)

• What Is the "LEAP" System?
• Risk-Based Capital Data for 2000
• Surplus Note Usage by Insurers

July 2001 (12 pages; $10)

• Executives' Compensation in 2000
• More about the Legal Attack on New York Life's Changes in Its Agents' Retirement Plan
• ViatiCare, Senior Settlements, and the Veterans of Foreign Wars
• The Likely Failure of a Universal Life Policy
• Tactics Used by a Critic of Northwestern Mutual

June 2001 (8 pages; $5)

• The Continuing Saga of Life Insurance Sales Practices at Military Installations
• Another Method for Evaluating Fractional Premium Charges
• From the Mailbag
• Prudential and th New York Department

May 2001 (8 pages; $5)

• A Legal Attack on New York Life's Changes in Its Agents' Retirement Plan
• More on the Age 100 Problem in Life Insurance
• Bank One's Market Index Accounts in an Environment of Falling Interest Rates

April 2001 (12 pages; $10)

• Second-to-Die Policies, the New Jersey Department, and the Insurance Industry Assault on the Policy Approval Process
• Dirtysheeting--Another Type of Viatical Fraud
• More on the Aritmetic of Senior Settlements
• A Further Update to Our September 2000 Special Ratings Issue
• Appendix: Recent Rating Actions Affecting Life-Health Insurance Companies

March 2001 (12 pages; $10)

• Justifying the Unjustifiable--How a Court-Approved Settlement Protected a $550 Million Bonanza in Fractional Premiums at Primerica
• The LOMA Report on Viatical and Life Settlements
• From the Mailbag
• Appendix A: Testimony of Brian McDonald
• Appendix B: Excerpt from Affidavit of Christopher P. Krahling

February 2001 (8 pages; $5)

• Two Dramatically Different Settlements in Litigation over Disclosure of Fractional Premium Charges as Annual Percentage Rates
• Should Life Insurers Compete with Viatical Firms by Offering Cash Values Related to the Health of Insureds?
• Health Related Cash Values--Some Practical Aspects (by Albert E. Easton)
• The Banning of The Insurance Forum in the Home Office of Massachusetts Mutual

January 2001 (8 pages; $5)

• General Electric Takes a Leadership Role in Disclosure of Fractional Premium Charges as Annual Percentage Rates
• The Age 100 Problem in Life Insurance
• Should the Federal Trade Commission Regulate the Secondary Market for Life Insurance Policies?
• Who Should Regulate the Viatical Industry? (by S. Roy Woodall, Jr.)
• Who Says Financial Services Integration is in Consumers' Best Interests?
• Appendix: How to Calculate Annual Percentage Rates and Annual Interest Rates Associated with Fractional Premiums

December 2000 (12 pages; $10)

• Variable Life, the Surrender Squeeze, and the Coming Bonanza for the Lawyers
• Update to Our Septmber 2000 Special Ratings Issue
• Arson vs. Murder: The Insurable Interest Anomaly and the Frightening Secondary Market for Life Insurance Policies
• Appendix: Recent Rating Actions Affecting Life-Health Insurance Companies

November 2000 (16 pages; $10)

• Life Partners and the Nonregulation of the Viatical Industry
• Viatical Senior Settlements and Contingency Insurance
• More on Executives' Compensation

October 2000 (8 pages; $5)

• How Not To Deal with a Troublesome Regulator -- Bankers Insurance Company's Investigation of an Insurance Department Employee
• Two Questions for Our Readers Concerning Fractional Premiums
• An Update on Florida's Viatical Reports

September 2000 (40 pages; $20)

• The Financial Strength of Life-Health Insurance Companies
• Ratings List of Life-Health Insurance Companies
• Watch List of Life-Health Insurance Companies
• Appendix A: Rating Firms' Descriptions of Their Rating Categories
• Appendix B: Rating Distributions of Life-Health Insurance Companies

August 2000 (16 pages; $10)

• Richard L. D. Morse
• The Aftermath of Bank One's Quiet Interest Rate Reduction on Market Index Accounts
• Risk-Based Capital Data for 1999
• Surplus Note Usage by Insurers
• Ratings Equivalencies Advertised by Duff & Phelps
• The First Viatical Fraud Convictions

July 2000 (12 pages; $10)

• The New York Insurance Department Slams the Door on Public Access to Compensation Data
• Federal Criminal Allegations in California Relating to Viatical Fraud
• Justus Viatical and the Illinois Insurance Department
• Executives' Compensation in 1999

June 2000 (12 pages; $10)

• A Florida Grand Jury Goes After Viatical Fraud
• The Huge Commissions Paid to Viatical Brokers
• Purchases by Viaticus in Texas During 1998 and 1999
• Appendix: Florida Grand Jury Report on Viatical Fraud

May 2000 (8 pages; $5)

• Characteristics of an Excellent Demutualization Plan
• The Arithmetic of Viatical Senior Settlements
• More Information about Viaticals
• From the Mailbag

April 2000 (8 pages; $5)

• The Actuarial Profession Brushes Aside Questions about Responsibility for the Disaster at Mid-Continent Life
• More about Life Partners and the Fifth Circuit
• A Correction
• The Uninsurables at Universal Guaranty Life--A Case Study in the Dangers of Simplified Underwriting
• The Sad Experience of a Policyholder of Mutual Benefit Life
• Our Book about Viaticals
• From the Mailbag

March 2000 (8 pages; $5)

• Viatical Fraud and the Legislative Attack on the Venerable Incontestability Clause in Life Insurance Policies
• Financial Information about Viaticus
• More on the Public Announcements Clause in the Termination Agreement Between ARM Financial and General American Life
• Our Detailed 1998-1999 Index

February 2000 (12 pages; $10)

• Visit Our New Website
• Congress Should Say Who Will Regulate the Viatical Business
• Update to Our September 1999 Special Ratings Issue
• Comments by Northwestern Mutual on Viatical Commissions

January 2000 (8 pages; $5)

• Wit Capital and the Demutualization of John Hancock
• Provident Mutual Withdraws Its Mutual Holding Company Reorganization Plan
• A Bizarre Amendment to Michigan's Viatical Statute

December 1999 (8 pages; $5)

• How Bank One Quietly Reduced Interest Rates on Market Index Accounts -- A Case Study in the Lack of Disclosure
• The Strange Results of the Allocation Formula in the Demutualization of John Hancock
• More Allegations of Wrongdoing in the Viatical Industry
• From the Mailbag

November 1999 (8 pages; $5)

• Another Major Setback for Provident Mutual and the Mutual Holding Company Concept
• American United Life Puts Redomestication on Hold
• American United Life Changes Its Definition of a Mutual Insurer

October 1999 (16 pages; $10)

• The Stunning Default at General American Life
• Continental Assurance Company Corrects Its Risk-Based Capital Data
• From the Mailbag
• Alleged Criminal Activity and Other Developments in the Viatical Industry

September 1999 Special Ratings Issue (32 pages; $20)

• The Financial Strength of Life-Health Insurance Companies

August 1999 (8 pages; $5)

• Deceptive Practices and the Establishment of IMSA
• More on the Canadian Approach to the Allocation of Value to Policyholders in Demutualizations
• New York Life Declines to Disclose Utilization Figures in Its Settlement of Allegations of Deceptive Sales Practices

July 1999 (24 pages; $20)

• Executives' Compensation in 1998
• Risk-Based Capital Data for 1998
• Surplus Note Usage by Insurance Companies

June 1999 (16 pages; $10)

• The Plight of the Policyowners in the Disaster at Mid-Continent Life
• On Election Versus Appointment of Insurance Commissioners
• A Provocative Question About Viatical Transactions

May 1999 (8 pages; $5)

• The Strange Results of the Allocation Formula in the Demutualization of Standard Insurance Company
• An Outrageous Advertisement Involving Duff & Phelps
• From the Mailbag

April 1999 (8 pages; $5)

• Provident Mutual's Legal Snag -- A Stunning Setback for the Mutual Holding Company Concept
• Eligibility -- An Important Issue in Demutualizations
• GenAmerica's Announcement About the End of Its Mutual Holding Company Experiment
• American Mutual's Announcement About the End of Its Mutual Holding Company Experiment
• An Income Tax Victory for the Mutual Holding Company Concept
• A. M. Best Sometimes Calls the Shots
• Standard & Poor's Ratings Evaluation Service

March 1999 Special Viatical Issue (12 pages; $10)

• Viatical Transactions and the Growth of the Frightening Secondary Market for Life Insurance Policies

February 1999 (16 pages; $10)

• Mutual Holding Companies and the Distribution of Surplus to Participating Policyowners
• More on Fractional Premium Charges
• Recent Developments Regarding the Fake Newspaper Clipping from Globe Life and Accident
• Update to Our October 1998 Special Ratings Issue

January 1999 (4 pages; $5)

• The Pennsylvania Insurance Department's Approval of Provident Mutual's Anti-Policyowner Reorganization Plan
• From the Mailbag

December 1998 Special Issue on Fractional Premiums (12 pages; $10)

• Fractional Premium Charges in the Life Insurance Business

November 1998 (8 pages; $5)

• Measuring the Price of the Protection in Life Annuities
• From the Mailbag
• More on Edmund Halley's 1693 Mortality Table
• Surplus Note Usage by Insurance Companies

October 1998 Special Ratings Issue (32 pages; $20)

• The Financial Strength of Life-Health Insurance Companies

September 1998 Special Holocaust Issue (20 pages; $15)

• Life Insurance and the Holocaust

August 1998 (16 pages; $15)

• USAA's Unsuccessful Effort to Avoid Disclosure of the Compensation of Its Executives
• Executives' Compensation in 1997
• Risk-Based Capital Data for 1997
• A Question About Life Annuities
• Moody's Report on Mutual Companies

July 1998 (8 pages; $5)

• The Iowa Commissioner's Anti-Policyowner Decision on Principal Mutual's Reorganization Plan
• Monarch Life Tightens the Rules for Its Disability Policyowners
• The Gift to the Iowa Septuplets from Employers Modern Life
• Selected Recent Rating Actions
• From the Mailbag

June 1998 (12 pages; $10)

• The Apparent Cover-Up at Provident Mutual
• The Grannis Committee Report

May 1998 (12 pages; $10)

• Democracy at Provident Mutual -- A Case Study in the Suppression of Communication Among Policyowners
• Covenant Life and Provident Mutual
• Why We Need Mutual Life Insurers (by James H. Hunt)
• An Income Tax Setback for the Mutual Holding Company Concept
• Selected Recent Rating Actions

April 1998 (12 pages; $10)

• Observations on the Governance of Mutual Insurance Companies
• Democracy at Allied Mutual -- A Case Study in the Lack of Disclosure to Voters
• Principal Mutual and the New York Insurance Department
• Provident Mutual and the Pennsylvania Insurance Department

March 1998 (8 pages; $5)

• A Challenge to Prudential
• Notification of Expiring Contractual Rights -- An Important Element of Rigorous Disclosure to Insurance Policyowners
• Some Words of Edmund Halley from 1693
• Selected Recent Rating Actions
• From the Mailbag
• Our Detailed 1996-1997 Index

February 1998 (4 pages; $5)

• Royal Maccabees' Anti-Policyowner Interpretation of the Reinstatement Clause in Disability Insurance
• More on General Electric Capital Assurance's Promotion of Long Term Care Insurance

January 1998 (8 pages; $5)

• Demotech's Financial Ratings--Should They Be Relied Upon?
• Sun Life of Canada's U. S. Branch and Its Risk-Based Capital Ratio
• Selected Recent Rating Actions