Webinar: The NAIC Model Act - How Proposed Revisions Could Impact Life Settlements
Chris Conway of Legacy Benefits spoke during a webinar about the NAIC Model Act. The webinar will be occurring on April 26, 2007.
Click here to register, or call (516) 876-8006. For complete description of the webinar, see below.
The NAIC Model Act - How Proposed Revisions Could Impact Life Settlements
April 26, 2007
1:00 - 2:30 PM (EST)
The National Association of Insurance Commissioners is revising its model act on life settlements. If approved, the revisions must still be adopted by legislatures in each state for it to become law. The NAIC is trying to prevent the purchase of insurance by investors with the intention of later being sold as a life settlement. Another provision would require fees for life settlements to be disclosed so seniors know how much of their settlement is going to brokers. Attend this webinar to learn how these new revisions could affect the way you do business.
Registration for this live 90-minute webinar is only $295 per site location (one fee for unlimited attendance at each site). You can attend this session from anywhere in the world, all you need is access to the Internet. To register,
click here or call our office at (516) 876-8006.
Webinar Agenda
Brian Casey, Lord Bissell & Brook LLP
Legal & Regulatory Environment: The Road Ahead
Life settlement companies, life insurance producers, and financing sources all want to know more about this complex and highly regulated industry. This session covers the various provisions of the NAIC Model Act and the proposed revisions from a legal perspective and how, if approved, they may affect the way you do business.
- Legal & Business Issues
- Regulatory & Political Issues
- Notifications & Disclosures
- Transaction Structures
Scott Cipinko, Life Insurance Finance Association
The Political Landscape
The discussions before the NAIC Committee turned from the issue of insurable interest and the manufacture of Stranger Initiated Life Insurance to a discussion of premium finance. Some believe that this debate missed the mark as a critical component concerning life and viatical settlements. This webinar segment focuses on the political landscape regarding the central issue of the improper use of trusts to circumvent the law.
- Power of NAIC & NCOIL
- Influence of Life Insurance Companies
- Voice and Influence of Agents
- Impact of Litigation & Premium Finance
Chris Conway, Legacy Benefits Corporation
What are the Market Related Impacts?
Adopting the NAIC Model Act in its current form could impact providers, brokers, investors, producers and most importantly consumers. This section defines, from a provider's perspective, the concerns about the proposed revisions, the efforts being taken to address these concerns and the possible impact the revisions could have.
- Proposed Revisions
- Consumer Impact
- Stranger Initiated Life Insurance (SILIs)
- "Improperly Issued" Life Insurance
Click here to register, or call (516) 876-8006.
