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An annual report is provided to the policyholder that shows the status of the policy, including the death benefit, the amount of insurance in force, the cash value and surrender value, and any transactions made within the policy during the previous year.
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Furthermore, both German and Swiss companies have been hampered by laws that state they must provide returns to policyholders that exceed a set minimum.
As a political matter, it is also obvious that Obama is merely trying to right his own sinking ship, especially after Bill Clinton's undoubtedly heartfelt advice (you just know), as well as to preempt a new House bill to aid canceled policyholders that passed Friday with bipartisan support, including 39 Democrats.
Caroselli said her group has a number of policyholders that are defendants in asbestos litigation.
"It's outrageous that health insurers dump policyholders that cost them too much money," Norris said.
Last year it told policyholders that life insurers did not run a risk of failure unless their solvency margin, measuring their capital adequacy, fell below 200%.
State lawmakers are also pushing insurance companies to make clear to policyholders that they can sell a life insurance policy to pay for long-term care.
Mr. Hagerty said he was assuring policyholders that his company has the financial wherewithal to cover the claims, despite his expectation that total damages could run "into the many, many millions of dollars".
For its part, Equitable Life this week reassured former policyholders that it will pass on any windfalls to them, and that it is definitely not plotting to deny them their free shares.
The company also warned policyholders that, following discussions with the FSA over the implication of a new "realistic" accounting regime, it would no longer be able to include the benefits of being a mutual when calculating future policy values.
The medical loss ratio (MLR for short) spells out the percentage of premium revenue insurers collect from policyholders that they actually pay out in medical claims.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com