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October 20, 2008
 
Print Version of All Articles in Oct. 20 ICI
Print out this file for all of the text in the current issue....
 
Best Practice Tip: Use This Checklist to Monitor Free Lunch Seminars
AARP has launched a program to help state securities administrators monitor free lunch seminars. It’s a program that can benefit insurers, too....
 
AIG Faces More Requests About Its Spending For Meetings, Other Expenses
After more than a week of outrage about its lavish retreats and executive compensation and a face-to-face meeting with a state attorney general, AIG said it will replace its chief financial officer, cancel 160 conferences and events and seek to recover more than $40 million paid to two former executives. But it doesn’t look as if the inquiries will end....
 
Newest SEC Guidance Tells Examiners to Respect Attorney-Client Privilege, Court Case Examines Coercion
The SEC’s enforcement manual tells its staff to respect legitimate assertions of the attorney-client privilege and attorney work product protection, unless that privilege is voluntarily waived. That guidance could take on added significance for insurers in light of a recent court decision....
 
Life Executives Push for OII in Letter to Treasury
Life insurers are using the current economic crisis as a means to continue their push for a federal Office of Insurance Information in the Treasury Department....
 
SEC Adds Time to Comment About Indexed Annuity Rule
The SEC has extended the comment period for its proposed rule to treat indexed annuities as securities and bring them under the jurisdiction of federal regulators....
 
Many Carriers Are Increasing Antifraud Budgets; Compliance Survey Asks If That’s Carrying Over to Compliance
Fraud fighters are saying companies should boost their antifraud investment and effort. That might be an excellent idea to consider for compliance operations, too....
 
Less Driving Leads to Lower N.Y. Premiums, But PCI Says Claim Costs Continue to Rise
There seems to be a difference of opinion about whether driving less should result in lower auto insurance premiums in New York....
 
Oregon’s Kipper Leaving After 10 Months as Commissioner
Oregon insurance administrator Scott Kipper is leaving the department less than a year after replacing Joel Ario....
 
Rules, Regs & Bulletins Oct. 20, 2008
A summary of recent regulatory developments and legislation...