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Newsletter
Rules and Discretion in Life Insurance Regulation
In this Chicago Fed Letter, we illustrate how regulators have used rule-based and principle-based approaches to set the minimum level of reserves and capital for insurers. We use examples to show the trend toward more principle-based regulation.
Newsletter
How liquid are U.S. life insurance liabilities?
This article describes the liquidity of various life insurance products and provides a measure that can be used to characterize the liquidity of the liabilities of the industry as a whole or of a particular firm.
Newsletter
The Risks of Pricing New Insurance Products: The Case of Long-Term Care
This article examines what happens when incorrect assumptions are made in pricing new insurance products. The focus is on the mispricing of long-term care (LTC) insurance?which led to the insolvency of Penn Treaty.1